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61. Millions spent, little progress: How Government failures derailed the Paphos-Polis road project

The Paphos-Polis Chrysochous road project has become a financial and legal mess, with millions already spent but little to show for it. Delays, contract disputes, and a legal loophole are holding up the project’s completion,...

62. €8 million and counting as Crete-Cyprus interconnector delays pile up

The long-awaited electricity interconnection between Crete and Cyprus is facing mounting financial pressure, with delays already adding at least €8 million in extra costs....

63. Ticking time bomb as sewage leaks threaten Akrotiri Salt Lake

A major environmental crisis is unfolding at Akrotiri Salt Lake, as sewage leaks and chemical discharges threaten Cyprus’ most important wetland...

64. RIK welfare fund scandal: Taxpayers on the hook for mismanaged millions

A potential case of misappropriation of public funds has emerged involving the Cyprus Radio Broadcasting Corporation's (RIK) Welfare Fund, according to findings from the Parliamentary Control Committee....

65. 2024: A year that seriously damaged Cyprus’s investment reputation

2024 will go down in history as a year that seriously damaged Cyprus’s investment reputation, with the collapse of several high-profile state projects....

66. Cyprus signs major deal for airport upgrades to boost passenger traffic

Cyprus has officially signed an agreement to settle long-standing disputes over its international airports. ...

67. What Trump’s election could mean for American taxpayers

A Donald Trump presidential election victory would have huge implications for US trade policy......

68. Delays hit €85 traffic fine reduction law

Three months after the unanimous approval by Cyprus’ Parliament to reduce fines for traffic violations caught by stationary cameras, the law has yet to be implemented. ...

69. Delays continue to hit GSP square, Nicosia’s future urban hub

According to a report by Kathimerini's Dorita Yiannakou, Nicosia residents have been eagerly awaiting the completion of the city’s largest public square and green spaces, a redevelopment of the old GSP stadium that has been delayed by over a year....

70. Will the Great Sea Interconnector become another failed project?

The Cyprus-Greece electrical interconnection, known as the Great Sea Interconnector, has highlighted the challenges of publicly discussing such a significant project....

71. EU Commissioner salaries: Over €310,000 a year

As the European Commission prepares to unveil its 26 new Commissioners, Cyprus has nominated former Minister and Professor Kostas Kadis for the role....

72. Transparency concerns cloud EU vote on Ursula von der Leyen's presidency

The political fate of Ursula von der Leyen hangs in the balance today as 720 Members of the European Parliament convene in Strasbourg at 1 p.m. local time......

73. Tax form deadline extended, no penalties until July 31

The Department of Taxation has announced an extension regarding the submission of the Tax and Contribution Withholding Statement-TF7. Until July 31, 2024, no administrative penalties will be enforced for failure to submit TF7....

74. Transport Minister confirms Nicosia ring road on track for June 16 completion

Transport, Communications, and Works Minister Alexis Vafeadis announced on Wednesday that the Nicosia peripheral motorway project is set to be completed by June 16, 2024, ...

75. Millions saved in Cyprus pension reform

The saga surrounding multiple pensions remains in limbo, as two bills navigate the corridors of power, scrutinized by the Presidential office, Cabinet, and Parliament....

76. AstraZeneca faces lawsuits over vaccine's rare blood-clotting risk

AstraZeneca has admitted that its COVID-19 vaccine could cause a rare but deadly blood-clotting condition, potentially exposing the UK pharmaceutical......

77. Politico: Greek companies under scrutiny in EU fund fraud probe

Greek authorities, alongside the European Public Prosecutor’s Office (EPPO), are delving into allegations of fraud concerning the allocation of €2.5 billion in EU funds to just 10 companies in Greece. ...

78. 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....

79. Akamas road irregularities demand answers

A series of pressing questions has emerged concerning irregularities in the initial phase of the road network construction in Akamas....

80. Israeli tax authorities probe Israeli investor activities in Cyprus

Israeli tax authorities are investigating the extensive business activities of Israeli investors in Cyprus, as revealed by Shai Aharonovich, head of Israel's Tax Department, in a report by leading financial newspaper, Globes....

81. Journalist's fight for justice against state broadcaster spans 17 years

In Cyprus, a journalist named Evdokia Loizou fought a 17-year legal battle against CyBC, the state broadcaster....

82. 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....

83. Deloitte’s Tax Facts 2024

84. Over 215M COVID vaccines trashed, €4B down the drain

In a concerning revelation, European countries have disposed of more than 215 million doses of COVID-19 vaccines, originally procured at the peak of the pandemic....

85. 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....

86. Tax audits expose unexplained remittances

Remittances abroad that are not justified by incomes declared in tax statements, problematic parental concessions or donations to children with sums of money directly “from the mattress,” and undeclared earnings were detected by the tax inspection centers in the audits they carried out in the first seven months of the year. ...

87. Tax return deadline extended to October 31

The Finance Ministry has announced an extension of the tax return submission deadline for the year 2022 until October 31, 2023, at 23:59. This extension comes after a proposal presented to the Council of Ministers....

88. AI's role in shaping future warfare

The war in Ukraine has brought about significant changes, including how wars will occur in the 21st century. These changes are quite substantial. Suddenly, everyone realizes that inexpensive unmanned aerial vehicles can inflict more damage than costly traditional military planes....

89. Former Finance Minister continues to question EuroAsia project

Former Finance Minister Constantinos Petrides has returned to the issue of the Eurasia Interconnector, expressing concerns and raising important questions. In a post on the "X" platform, he highlighted the need for transparency and clarity surrounding this significant and costly project....

90. Cyprus gov't to pay €345,000 to Turkish Cypriot for illegal use of property

The big news: "Compensation of €345,000 will be paid to a T/C of American origin by the Republic of Cyprus, while also returning his property in Limassol, which was being used illegally....