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Cyprus News Agency: News in English, 13-07-18

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] Cabinet decides tax pardoning for capital repatriation

  • [01] Cabinet decides tax pardoning for capital repatriation

    Government Spokesman Christos Stylianides announced tax pardoning for those who will bring back capital by the 31st of December 2013, on the basis of specific criteria.

    Speaking after the meeting of the Council of Ministers, Stylianides said that the government, taking into consideration the financial crisis, decided that, in order to attract investments and strengthen liquidity, it would offer tax pardoning to those who will repatriate capital by the 31st of December 2013.

    He pointed out, however, that the government was very sensitive when it came to tax evasion and would thus provide pardoning on specific grounds, namely that the capital is used for immediate and measurable investments or to pay off debts to banks or the state, and the money to be pardoned would be deposited in banks for five years, and would be used to purchase state bonds.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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