09/12/2003 14:33
Speaking after the completion of the meeting of the House Commerce Committee, Finance Minister, Marcos Kyprianou expressed his readiness to start talks with the commercial banks on the partial lifting of the banking secrecy.
Mr. Kyprianou reiterated that he is open to any proposals or corrections, provided that there will be no amendments on the philosophy of the bill and stressed that honest taxpayers will no longer be at a disadvantage against the crafty tax evaders.
Invited to comment on the information that DIKO possesses a study according to which the lifting of banking secrecy will affect negatively the Cyprus economy and will enable the transfer of capital abroad, Mr. Kyprianou said that although he is not aware of the content of the study, “it probably relies on impressions and not on the basis of the governmental bill”.
Mr. Kyprianou reiterated that he is open to any proposals or corrections, provided that there will be no amendments on the philosophy of the bill and stressed that honest taxpayers will no longer be at a disadvantage against the crafty tax evaders.
Invited to comment on the information that DIKO possesses a study according to which the lifting of banking secrecy will affect negatively the Cyprus economy and will enable the transfer of capital abroad, Mr. Kyprianou said that although he is not aware of the content of the study, “it probably relies on impressions and not on the basis of the governmental bill”.
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