Government Reconsiders Tax on High-Value Real Estate in Wake of Fiscal Reform

by THEFUTURE.TEAM

December 10, 2025

Evaluating Tax Measures for Properties Exceeding €3 Million

In a signal move following the recent tax reform, the Ministry of Finance is set to reassess the prospect of levying a tax on real estate assets valued over €3 million. Finance Minister Makis Keravnos announced during a session before the Finance Committee that this potential measure will be carefully studied once the ongoing fiscal reforms have been fully implemented.

Context and Historical Precedents

The discussion was prompted by a legislative proposal submitted by the political party AKEL, which advocated for a 0.1% levy on properties exceeding the specified threshold, a suggestion also backed by the Centre for Economic Research. Although this tax measure was part of earlier proposals, it was not adopted by the government, notably as a similar tax had been abolished a few years ago. Moving forward, authorities will reexamine the feasibility of administration by local governments.

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Corporate Tax Adjustments and Policy Timing

Alongside the real estate tax, questions arose pertaining to a graduated fee on companies—another strategy endorsed by the Centre for Economic Research during the design phase of the tax reform. However, the government determined that in the midst of sweeping tax changes affecting businesses, the imposition of an additional corporate fee might complicate rather than clarify taxation policy.

Challenges in Pension Funds and Cryptocurrency Regulation

Addressing another facet of fiscal policy, Minister Keravnos commented on the investment activities of pension funds. He noted that the European Commission has observed that exempting these funds from taxation amounts to a form of state aid, a matter that may prompt further explanations to the EC. Regarding tax adjustments for cryptocurrency transactions, the minister emphasized that elevating the rate from 8% to 15% is less about the tax rate itself and more about the challenges involved in accurately tracking these assets. He also highlighted that an upcoming regulatory framework from the European Commission is expected to be adopted by Cyprus.

This evolving fiscal landscape underscores the government’s careful balancing act between stimulating business confidence and ensuring equitable taxation practices in a rapidly changing economic environment.

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EU Agrees On Major Overhaul Of Financial Market Supervision

by THEFUTURE.TEAM

October 9, 2026

European Union finance ministers have reached agreement on a sweeping package designed to strengthen oversight of the bloc’s financial markets, in a move aimed at reducing fragmentation and improving the flow of capital across borders.

A Push To Deepen Capital Markets

The Market Integration and Supervision Package, or MISP, would grant the European Securities and Markets Authority direct supervision over major market operators that are currently regulated by national authorities. The reforms are intended to make Europe’s capital markets more integrated, more efficient and better able to channel savings into productive investment.

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According to the Irish presidency, the package is meant to help savings and investments move more freely across the European Union, improving access to finance for companies while giving households broader opportunities to earn returns on their savings.

What The Reform Would Change

Under the new framework, ESMA would take direct oversight of key trading venues, clearing houses, securities settlement bodies and crypto-asset service providers. The package would also establish a permanent, independent executive board within the regulator, strengthening its institutional capacity.

Market operators would be able to opt into a new EU-wide operating framework. In parallel, the reforms would seek to make national supervision more consistent and update rules governing trading, transaction completion, investment management and the use of blockchain technology.

Why The Agreement Matters

Supporters of deeper capital markets argue that Europe has long paid a price for regulatory inconsistency. While many rules are harmonised across the bloc, differences in enforcement and supervision have contributed to a patchwork system that can make cross-border investment slower and more costly.

A more integrated framework, proponents say, could lower costs for companies seeking funding and broaden the menu of investment options available to savers and institutional investors alike.

Outstanding Questions Remain

Despite the broad agreement, some important details remain unresolved. Trading venues operated by Deutsche Börse, the company behind the Frankfurt stock exchange, may remain outside ESMA’s direct supervision.

Euronews previously reported that Germany had secured an exemption for Deutsche Börse’s domestically focused trading venues, leaving part of the system under regional supervision. The latest announcement did not clarify whether that arrangement will stand.

A Step Forward For The Savings And Investments Union

Dutch Finance Minister Eelco Heinen welcomed the deal, calling it a major advance for the Capital Markets Union and saying Europe had made more progress in 10 months than in the previous 10 years.

The agreement is an important milestone in the Savings and Investments Union, the EU’s broader effort to channel more of Europeans’ savings into investments that can support growth, innovation and competitiveness across the bloc.

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