Article Posted date 22 April 2024

Following the publication in the Government Gazette on 12 April 2024 of Law N.45(I)/2024, increased capital allowances will be granted on capital expenditure incurred during the tax years 2023-2026 for:

  • Improving the energy efficiency of buildings at the rate of 7%
  • Technical systems used for improving the energy efficiency of buildings, renewable energy systems and electric energy storage systems (batteries) at the rate of 20%
  • Electric vehicles at the rate of 33,3%

Details of the new provisions of the Law can be found here

Πράσινα φορολογικά κίνητρα - Αύξηση στις Κεφαλαιουχικές Εκπτώσεις

Φορολογική Ενημέρωση

Δημοσιεύτηκε στην Επίσημη Εφημερίδα της Δημοκρατίας στις 12 Απριλίου 2024, ο Νόμος Ν.45(Ι)/2024 σύμφωνα με τον οποίο, θα παραχωρούνται αυξημένες κεφαλαιουχικές εκπτώσεις, για κεφαλαιουχικές δαπάνες οι οποίες πραγματοποιούνται εντός των φορολογικών ετών 2023-2026 οι οποίες αφορούν:

  • Βελτίωση της ενεργειακής απόδοσης των κτιρίων με ποσοστό 7%
  • Τεχνικά συστήματα ενεργειακής απόδοσης των κτιρίων, συστήματα ανανεώσιμων πηγών ενέργειας καθώς και μπαταρίες αποθήκευσης ηλεκτρικής ενέργειας με ποσοστό 20%
  • Ηλεκτρικά οχήματα με ποσοστό 33,3%

Λεπτομέρειες των νέων προνοιών της νομοθεσίας αναφέρονται εδώ

How can KPMG assist?

Should you like to further discuss the content and potential impact of the above to your business, please contact one of our trusted advisors from the Tax Department at KPMG in Cyprus.

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