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Press: Hastening of VAT payment

05/09/2011 07:13
The major issues in today’s financial press are the yields of the insurance companies in July, the change of the tax period for VAT purposes and the warnings of DISY and DIKO to the government in order to take more measures for the economy.

The “Economy” inset of newspaper “Phileleftheros” refers to the yield of the insurance companies in July. According to the Insurance Companies Association, the yield of the nine – out of ten – biggest funds is negative. The data are negative for 26 more investment funds of the remaining 43, the losses of which exceed 20%.

Elsewhere the newspaper reports that it is still unknown whether CAIR will execute flights to Greece today due to the white strike of the air traffic controllers in Greece.

Other headlines:

- Critical week for the Greek economy

- Need for dynamic measures - DIKO

- Interest rate increase in the euro area is risky

- G. Costopoulos: No room for two and a half banks

The “Economy” inset of newspaper “Politis” refers to the change of the tax period for VAT purposes. According to the report, the businesses received letters from the VAT service, which inform them that the period of VAT payment to the state changes from three months to one, pushing for their liquidity.

“Politis” also highlights that the US government will file legal actions against banks for the buble in properties.

The “Economy” inset of newspaper “Simerini” refers to the warnings of DISY President and DIKO Spokesman to the government for the taking of additional measures for the economy. According to the report, Nicos Anastasiades and Fotis Fotiou warned the government that if it fails to take additional measures, it will burden the citizens.

The newspaper also reports that the ECB is likely to send a message on Thursday so as to stop the interest rate increase.

Other headline:

- PwC: Leading Consulting Services Company

The “Economy” inset of newspaper “Alithia” refers to the meeting of the Labour Advisory Body under the Labour Minister. According to the report, the Body will have talks on the transfer of the pension rights and the amendment of the law for the registration of the employees.

Elsewhere the newspaper refers to the difficult economic condition of four boroughs in Paphos.

Other headlines:

- And the name is “Vienna”! – Lufthansa Airbuss A380

- EMSc in Cypys market with the innovative HotelStar system

- Easyjet reins skies with wine too

- Does you staff know about your strategy? – Management

The newspaper “Haravgi” does not contain a financial inset.