https://knews.kathimerini.com.cy/en/news/cyprus-ends-2023-with-€918-7-million-fiscal-surplus
Cyprus's financial report card for 2023 is in, and it's showing some positive signs. According to the Statistical Service of Cyprus, the country ended the year with a fiscal surplus of €918.7 million. That's like having extra money left over after paying all the bills....
https://knews.kathimerini.com.cy/en/news/cyprus-public-debt-declines-economic-outlook-brightens
According to a report by Panayiotis Rougalas, Cyprus is seeing a promising reduction in its public debt, with figures suggesting a return to 2019 levels....
https://knews.kathimerini.com.cy/en/business/will-fredriksen-group-set-sail-for-cyprus
The Fredriksen Group, led by prominent shipping magnate John Fredriksen, is contemplating relocating a significant portion, if not all, of its shipping operations from Norway to Cyprus, citing dissatisfaction with Norway's framework conditions....
https://knews.kathimerini.com.cy/en/news/audit-exposes-serious-issues-in-collecting-unpaid-taxes-in-cyprus
An audit report from the Tax Department for 2022 has uncovered a staggering accumulation of over €2.5 billion in arrears, with €1 billion considered unsecure due to delays in necessary measures, the Audit Service revealed....
https://knews.kathimerini.com.cy/en/business/employers-call-for-tax-reform-to-spur-economic-growth
Employers are advocating for a comprehensive overhaul of the tax system, proposing significant changes aimed at boosting economic activity and competitiveness. Here's a breakdown of their proposals:...
https://knews.kathimerini.com.cy/en/news/tougher-regulations-loom-for-tobacco-heat-sticks-in-europe
European governments are weighing the introduction of tougher rules on cigarette makers’ new zero-tobacco heat sticks, moving to close the loopholes they were designed to exploit just months after their launch.
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https://knews.kathimerini.com.cy/en/news/netherlands-makes-history-as-the-first-country-to-wipe-out-stray-dogs
In a landmark achievement, the Netherlands has become the world's first country to eradicate the issue of stray dogs, setting a global benchmark in animal welfare practices. ...
https://knews.kathimerini.com.cy/en/news/lawmakers-slam-green-taxation-plans-as-stupid-and-immoral
DISY MP Kyriakos Hatzigiannis and Ecologists MP Stavros Papadouris sharply criticized the government's green taxation plans in interviews with ''SPOR FM 95.0'' and ''DIASPORA News.''...
https://knews.kathimerini.com.cy/en/news/finance-ministry-to-shield-vulnerable-homes-from-price-hikes
The forthcoming measures are set to target specific areas, not just spread thinly across the board, in the fight against rising prices....
https://knews.kathimerini.com.cy/en/news/cyprus-grapples-with-€80-million-surge-in-state-budget-deficit-for-2023
The state budget deficit for 2023 increased by €80 million compared to the deficit recorded in 2022, according to the Fiscal Report of the Republic of Cyprus for 2023, submitted to the House of Representatives....
https://knews.kathimerini.com.cy/en/news/archbishop-georgios-in-k-the-scandal-rocking-the-church-of-cyprus
In an interview with ''K,'' Archbishop George assures that efforts are being made to fully clarify the case of the Monastery of Saint Avvakum, which is causing turmoil within the Church. ...
https://knews.kathimerini.com.cy/en/news/hotel-industry-faces-backlash-over-residence-fees
The inclusion of a residence tax within the framework of the green tax reform, affecting hotels, tourist accommodations, and Airbnb, is expected to trigger reactions within the hotel industry....
https://knews.kathimerini.com.cy/en/business/state-collects-€90-million-in-taxes-from-casino
The state has seen a boost in tax revenue since the summer of 2018 when the temporary casino debuted in Limassol. The trend continues with the current operation of the resort and satellite locations in the provinces....
https://knews.kathimerini.com.cy/en/business/pillar-two-readiness-and-technology
As per our previous publications and alerts, we had the opportunity to communicate a significant development - the introduction of BEPS 2.0 Pillar Two or Global Minimum Tax. The European Union unanimously adopted a directive in December 2022 (the ''Minimum Tax Directive''). ...
https://knews.kathimerini.com.cy/en/business/greece-to-bring-in-40-000-workers-from-six-countries
Prime Minister Kyriakos Mitsotakis announced on Thursday that Greece is on the cusp of a migration agreement with India to bring in unskilled and skilled workers to the country to be employed in the agricultural, construction and tourism sectors....
https://knews.kathimerini.com.cy/en/business/ey-seminar-explores-green-tax-impact-on-businesses
EY Cyprus Academy of Learning and Development Organized a Seminar on Sustainability and Green Taxes Affecting Business – As – Usual: The EU Role of Cyprus.
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https://knews.kathimerini.com.cy/en/news/cyprus-development-expenditure-2023-surpasses-€1b
The realization of state budget development expenditure in 2023 reached 72% compared to 70% in 2022 and the average of 69% over the last decade, according to a Treasury report released on Wednesday....
https://knews.kathimerini.com.cy/en/news/farmers-rev-up-tractors-in-protest-against-eu-agricultural-policies
In the third such demonstration within eight months, Cypriot farmers steered their tractors through city streets, protesting against what they perceive as the European Union's misguided policies in the common agricultural policy....
https://knews.kathimerini.com.cy/en/news/government-to-receive-€1-2b-for-green-transition-and-resilience-plan
Cyprus is set to receive a total of 1.2 billion euros from the Recovery and Resilience Plan (RRP). ...
https://knews.kathimerini.com.cy/en/news/cypriot-farmers-protests-send-ripples-across-europe
The surge of farmers' fury has reverberated in a manner unprecedented for Brussels, the nerve center of European decision-making....
https://knews.kathimerini.com.cy/en/news/farmers-protest-outside-european-parliament-over-taxes-and-imports
In a fervent display of frustration, angry farmers ignited fires outside the European Parliament building in Brussels today, venting their grievances against taxes, escalating costs, and the influx of cheap imports....
https://knews.kathimerini.com.cy/en/business/businesses-fear-global-tax-reform-will-lead-to-double-taxation
Global tax reform, ineffective use of technology and economic uncertainty are putting significant strain on business’ transfer pricing (TP) capabilities, according to the 2024 EY International Tax and Transfer Pricing Survey....
https://knews.kathimerini.com.cy/en/business/ey-cyprus-releases-the-cyprus-tax-facts-guide-2024
EY Cyprus is delighted to announce the release of the latest edition of the Cyprus Tax Facts guide for the year 2024....
https://knews.kathimerini.com.cy/en/news/greece-rolls-out-climate-resilience-levy-to-fund-post-disaster-reconstruction
In an effort to finance reconstruction projects following severe forest fires and floods, the Greek government has introduced a new accommodation tax, referred to as the 'climate resilience levy.'...
https://knews.kathimerini.com.cy/en/news/cyprus-tax-reform-targets-green-initiatives-and-economic-revitalization
By March 2024, the initial six phases of the tax transformation project commissioned by the Ministry of Finance to the Centre for Economic Research of the University of Cyprus will conclude,...
https://knews.kathimerini.com.cy/en/news/hunter-biden-indicted-on-tax-charges-amid-intensifying-legal-woes
Hunter Biden, the son of President Joe Biden, faces new legal challenges as he was indicted on Thursday on nine tax charges in California. The charges, comprising three felonies and six misdemeanors, are in addition to federal firearms charges in Delaware....
https://knews.kathimerini.com.cy/en/business/france-s-controversial-anti-smoking-campaign-sparks-debate
France is set to intensify its battle against smoking, with Health Minister Aurelien Rousseau announcing a comprehensive anti-smoking program....
https://knews.kathimerini.com.cy/en/business/dac6-revisited-through-the-prism-of-dac8
The Directive on Administration Cooperation (''DAC'') has been amended multiple times since 2011 to allow for the automatic exchange of information across multiple fields of taxation....
https://knews.kathimerini.com.cy/en/news/shakira-s-€14-5m-showdown-ends-with-a-€7m-encore
Pop star Shakira has gracefully sidestepped a €14.5 million tax trial in Spain, sealing a last-minute deal with authorities just as proceedings were set to commence....
https://knews.kathimerini.com.cy/en/news/pocket-drain-or-green-gain-denmark-s-tricky-tax-call
Airports Council International Europe has issued a cautionary note to the Danish Government, discouraging the introduction of a passenger tax averaging 100 Danish krone or $14 (€13.41) on air travel....
