Cyprus Finance Minister Takis Klerides said at a conference that while the EU accession negotiations were on track, it was a costly and laborious process, with agriculture and taxation being the two most difficult dossiers. Klerides said: 'Our aim is to maintain as far as possible the favourable tax regime'. He said that Cyprus is particularly sensitive as regards offshore companies since income from the 36,585 registered offshore enterprises in 1998 was of the order of CY£200m.
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