“VAT is by far the largest contributor to the national budget every year,” Deputy Minister to the President, Irene Piki, revealed in her opening speech at the CYVA VAT Forum 2025, held on Monday, 3 November 2025 at Ktima Kousioumi in Nicosia.
The theme of the Forum, which was organised by the Cyprus VAT Association (CYVA) and attracted close to 200 delegates, was the present and future of arguably the most important tax in Cyprus and most of the world, VAT.
Speaking on behalf of President Christodoulides, Piki said that in 2024, VAT accounted for €2,8 billion or 38% of the total income of the Republic, an increase of 6,8% from 2023 and 25,8% from the year before.
The Deputy Minister said that “VAT affects every citizen and every business” and that the effectiveness of the Cyprus VAT system is inseparable from the broader context of public sector reform and strategic policy, pointing out that “reform is the architecture of our future.” In this context, she also touched upon the government’s upcoming tax reform initiative saying it aims at a “fairer redistribution of wealth and simplification, transparency, and competitiveness of businesses.”
Piki also pointed out that organisations like CYVA, contribute in shaping a modern, fair, and effective tax system and that by bringing together professionals from across sectors, CYVA helps bridge the gap between policy and practice and turning complex legislation into workable solutions that serve both the public interest and the needs of the business community.
A star-studded panel of experts from Cyprus and the EU addressed the Forum, including the Cypriot Vice-President of the General Court of the EU, Dr. Savvas Papasavvas, Référendaire at the Court of Justice of the EU, Prof. Dr. David Hummel, the President of the International VAT Association (IVA), Fernando Matesanz, Director of IVA, Raymond Feen and PhD Candidate at the University of Leipzig, Felician Hummel.
The Forum was also addressed by the Integrated Tax Administration System team of the Cyprus Tax Department who updated the professionals in the crowd on the progress of the Tax For All (TFA) system and spoke about the Functional Evolution of the Tax Department.
Vice-Chairman of CYVA, and well-known VAT guru, Alexis Tsielepis, also took to the stage offering attendees a glimpse into the life of a VAT advisor and declaring he is a VATaholic.
The Forum also included a high-level panel of experts who touched on a number of pressing issues that are currently affecting VAT.
The Forum opened and concluded with remarks from CYVA Chairwoman, Demetra Constantinou, who welcomed and thanked the delegates for their participation.
The VAT Forum was sponsored by Bakertilly Klitou and Partners, Chelco VAT Ltd, Costas Tsielepis & Co Ltd, Kinanis LLC, PK NovusTax & Co Ltd, Andersen CY, Andreas Konnaris LLC, CyBooks, Eurofast, Fincrew Ltd, Nexia Poyiadjis, Scordis Papapetrou & Co LLC and K. Treppides & Co Ltd.
CYVA was formed in 2019 with the aim of providing a unified and independent voice to all professionals and businesses in Cyprus on Value Added Tax matters.
