Sunday March 1, 2015 Search
Weather | Athens
11o C
6o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Nicosia planning to introduce tax amnesty

Cyprus will introduce a tax amnesty to lure back funds concealed from authorities abroad, but only for individuals making long-term investments or buying government bonds, authorities said on Thursday.

The amnesty will be valid until December 31, government spokesman Christos Stylianides told reporters.

It will not be a blanket amnesty, because the government is very sensitive to issues of tax evasion, he said.

Under terms of legislation to be drafted for approval, individuals who repatriate cash for investments, government bond purchases or long-term bank deposits, or to repay debts, will be exempted from income tax.

Stylianides could not give an estimate on how much money was believed to be stashed abroad.

We are in a difficult economic crisis and we need liquidity, he said.

Cyprus required a 10-billion-euro bailout from international lenders in March to prop up a banking sector crippled by losses from lending to Greece and to plug big fiscal deficits.

A condition of aid was seizing billions in bank deposits in two major banks which required recapitalizing, the first time savers have been directly targeted in the eurozone crisis. [Reuters]

ekathimerini.com , Friday Jul 19, 2013 (20:13)  
Greece seeks negotiations on ECB bond repayment
Piraeus plans are coming in next few weeks
Slowdown in tourism bookings from Germany
Economy grew by 1.3 pct in Q4 of last year
Alleged accomplices of N17s Xeros caught in Athens
One man was arrested and another detained in Athens on Saturday in connection to the November 17 terrorist Christodoulos Xeros, who was recaptured in January after a year on the run. Accordi...
Hellas Gold and workers react to Greek govt decision on plan permit
Hellas Gold and its workers at the gold mine in Skouries, Halkidiki, have vowed to take legal action after the government announced on Friday that it would be recalling the permit for a proc...
Inside News
BASKETBALL
Spanoulis leads Olympiakos to win over Malaga
A good second half was enough for Olympiakos to get the better of Unicaja Malaga (77-72) and score its seventh win in eight games at the second group stage of the Euroleague on Friday. Playi...
SOCCER
Ten-man Olympiakos couldnt overcome Dnipro
Olympiakos drew 2-2 with Dnipro from Ukraine at home on Thursday, playing almost the entire second half with a man down, to bow out of the Europa League, despite facing an opponent which on ...
Inside Sports
COMMENTARY
A unionist agenda
Maybe Greece will not experience a credit event, because it is in no ones interest, as Minister of State for Coordinating Government Operations Alekos Flambouraris recently assured. Maybe...
EDITORIAL
The beguiling limelight
Too much media exposure is never a good thing and there is no shortage of newcomers in politics who are beguiled by the limelight. What usually comes after this thrall of publicity is the in...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Alleged accomplices of N17s Xeros caught in Athens
2. Hellas Gold and workers react to Greek govt decision on plan permit
3. Greek ministry says teacher hirings to continue via ASEP
4. Women conned elderly Cretans by posing as church representatives
5. Spain, Portugal sought to trip up govt, Tsipras says
6. Police nab Kavala man over homegrown cannabis
more news
Today
This Week
1. Greece seeks negotiations on ECB bond repayment
2. Spain, Portugal sought to trip up govt, Tsipras says
3. A unionist agenda
4. Hellas Gold and workers react to Greek gov't decision on plan permit
5. Greek ministry says teacher hirings to continue via ASEP
6. Women conned elderly Cretans by posing as church representatives
Today
This Week
1. Time for Alexis Tsipras to keep his nerve
2. Greek bailout deal faces review by euro officials next week
3. Greece says eurozone deal won time as cash bled from banks
4. The ignorance of the West about the culture of Islam
5. A fierce battle looms
6. Spain said to lead push to hold Greece to terms as Podemos grows
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.