Economic Director: Lucy Herodotou Mouskou
1. Macroeconomic/Fiscal Policy Area
(a) Systematic monitoring of the developments of the Cypriot economy and analysis of its prospects.
(b) Monitoring the macroeconomic situation and processing recommendations for safeguarding macroeconomic stability.
(c) Formulation/updating fiscal policy.
(d) Devising of proposals and recommendations on issues concerning economic and social policy.
(e) Elaboration on issues related to the Social Security Fund and its long-term sustainability.
(f) Briefing international organizations inter alia the European Commission, the International Monetary Fund, the European Central Bank and Credit Rating Agencies on the developments and prospects of the Cyprus economy.
2. Tax Policy Unit
The Tax Policy Unit mainly deals with the formulation of tax policy on the basis of European and international developments. It collaborates with the Tax Department and the Customs Department mainly on administrative matters, jointly promoting bills or policies and related matters, and examining requests from organizations and citizens.
2.1 Management of direct and indirect taxes:
(a) Requests for tax debts write downs: consider requests of write down of due taxes or concession gratia grant for payment of tax due.
(b) Green Tax Reform.
2.2 Double Tax Agreements (DTA) and other tax agreements
(a) Coordination of negotiation process and processing DTAs.
(b) Coordination and processing of other tax agreements that regulate the tax relationships of the Republic with third countries and Organizations (i.e. for the exchange of information for tax purposes and for tax transparency).
(c) Maintain a list of current DTAs in force.
3. European Union Sector
(a) Participation in European Union Committees and Working Groups.
(b) Support and co-ordination of the participation of the Ministry of Finance to the ECOFIN Council.
(c) Participation of the Ministry of Finance in Economic and Financial Committee of the EU (EFC).
(d) Preparing the Draft Budgetary Plan and submitting it to the European Commission.
(e) Preparing the Stability Program and submitting it to the European Commission.
4. Other Responsibilities
(b) Participation in the work of the HIO Board of Directors as a representative of the Permanent Secretary of the Ministry of Finance.
(c) Participation in the Defense and Security Offers Council.
(d) Monitoring the implementation of the ESTIA scheme.
(e) Preparation of speeches and addresses for the Minister on subjects within the ambit of Directorate’s competences.
(f) Approval of early retirement schemes for Municipalities/ Semi-governmental organizations.
(g) Social Media
Telephone number: +357 22601192
Fax number: +357 22602750