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Cyprus Prepares For 2026 EU Presidency With Vision For A Stronger Europe

by THEFUTURE.TEAM
January 30, 2025

Cyprus is gearing up to assume the Presidency of the Council of the European Union in the first half of 2026, a pivotal opportunity to reinforce its role as a strategic bridge between Europe and the broader region. President Nikos Christodoulides, presenting the Official Governance Agenda 2025 at the Presidential Palace on Wednesday, outlined the government’s priorities as it prepares for this crucial leadership role.

A Presidency Beyond Agenda Management

The Cypriot government, Christodoulides emphasized, is not approaching the EU Presidency as a mere administrative task but as a chance to actively shape policies and drive solutions that benefit Europe. The focus will be on deepening European integration and enhancing the EU’s strategic autonomy, ensuring a more resilient, competitive, and united Europe.

“Our objective is a Presidency that goes beyond managing the European agenda,” the President stated. “We aim to act as an honest mediator, shaping policies with tangible actions, not just rhetoric, and advancing common European interests.”

Strengthening Cyprus’ Global Engagement

Looking ahead to 2025, the government plans to expand its diplomatic, strategic, and development partnerships, particularly with nations where Cyprus currently lacks a diplomatic presence. This will be achieved through educational and humanitarian diplomacy, spearheaded by the upgraded Cyprus Aid agency.

Highlighting Cyprus’ growing role on the international stage, Christodoulides reaffirmed the country’s commitment to reinforcing bilateral relations with African nations, working closely with fellow EU member states to institutionalize cooperation and foster meaningful partnerships.

Cyprus: A Reliable And Proactive EU Partner

The 2026 EU Presidency, Christodoulides stressed, is more than a symbolic leadership role—it is an opportunity for Cyprus to demonstrate its value as a dependable and proactive EU member state.

“Cyprus is not just a participant but a core contributor to the Union’s future—a reliable, results-driven partner that strengthens Europe with action, not just words,” he affirmed.

As preparations accelerate, Cyprus positions itself as a key player in shaping Europe’s trajectory, reinforcing its strategic importance and commitment to a stronger, more united European Union.

EU E-Commerce VAT Systems Generate €257.9 Million Revenue for Cyprus in 2024

by THEFUTURE.TEAM
August 11, 2025

Robust Revenue Growth Through Streamlined VAT Collection

Cyprus has demonstrated a significant fiscal boost in 2024 with €257.9 million generated from the European Union’s e-commerce VAT systems, according to Tax Commissioner Sotiris Markides. This impressive performance underscores the effectiveness of the One Stop Shop (OSS) and Import One Stop Shop (IOSS) frameworks in simplifying cross-border tax compliance.

Simplified Procedures for EU and Non-EU Businesses

The OSS system allows Cyprus-registered businesses to streamline VAT declaration and payment on sales to consumers in other EU countries. Companies simply register on the local OSS platform, apply the consumer’s VAT rate, aggregate their submissions quarterly or monthly, and remit a single consolidated payment. Subsequently, Cyprus allocates the appropriate share to each respective EU country. This efficient process extends to non-EU sellers as well, who can have their intra-EU distance sales managed under the Union Scheme.

Breakdown of VAT Revenue Streams

Last year’s declarations under the various schemes illustrate the system’s broad reach: €217.9 million was collected via the Union Scheme, €36.9 million through the Non-Union Scheme, and €3.1 million via the Import Scheme. While the Union Scheme caters to both EU and non-EU sellers engaging in distance sales, the Non-Union Scheme specifically accommodates non-EU firms delivering services to EU consumers. Furthermore, the Import Scheme targets goods valued at less than €150 that are imported from outside the EU.

Implications and Broader Impact

Implemented in July 2021 as an evolution from the more limited MOSS system, these reforms have not only consolidated tax collection through an expansive OSS but also integrated the IOSS for low-value imports. By designating certain online marketplaces as “deemed suppliers,” the new framework ensures that VAT collection is both efficient and equitable. Across the EU, these mechanisms have generated over €33 billion in VAT revenues in 2024, reflecting a successful effort to simplify tax compliance, reduce administrative burdens, and promote fair taxation across the bloc.

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