Cyprus Published Law N.45(I)/2024 in the Official Gazette on 12 April 2024, which provides increased capital allowances (deductions) for expenditure on improving energy efficiency and electric vehicles. This includes: A 7% allowance rate for capital expenditure incurred to improve the energy efficiency of buildings, such as thermal insulation; A 20% allowance rate for capital expenditure incurred for technical building energy efficiency systems, such as heat recovery systems and energy management systems, as well as renewable energy systems, and electric energy storage batteries; and A 33.33% allowance rate for capital expenditure incurred on electric vehicles. The increased capital allowance rates are...