According to a study prepared by the Economic Research Centre and will be published in the next Cyprus Economic Policy Review, black economy appears to be around 7–8% of GDP. The survey, carried out...
The VAT revenues slowed down significantly in November, reflecting the tough economic conditions and the impacts on the consumers’ pockets. According to latest Customs’ data, consumption recorded...
09/12/2008
The problem with the Russian “black” list that Cyprus joins since July 2007 will be settled in 2009. Despite expectations for a settlement during the visit of the President of the Republic in Moscow...
21/11/2008
The purchase of plots will be burdened with a 15% VAT as from January 1, 2009, since the European Union does not intend to give another extension to Cyprus. The upcoming VAT on plots will be imposed...
21/10/2008
DISY Vice President, Averof Neophytou urged the government on Wednesday to submit a bill for the reduction of the consumer tax on heating oil to 1.2 cents per litre. According to CNA, Mr....
15/10/2008
The VAT payments accelerated slightly in September, keeping the inflow of state revenues high and boosting expectations that the crisis has not affected consumers yet. The total indirect tax...
09/10/2008
The revenues from the capital gains tax, which is paid on the goodwill of the properties, tumbled 42% in August 2008, pushing total losses for the first eight months of the year to 18%. The state...
12/09/2008
The inflow of revenues from indirect taxes in August 2008 slowed down. Although they are still above the Finance Ministry’s initial forecasts, their slow down raised concerns on the impacts of the...
09/09/2008
At its last meeting on August 27, the Council of Ministers approved the agreement for the Avoidance of Double Taxation with the Czech Republic and Qatar. The Council of Ministers authorized the...
04/09/2008
According to the Inland Revenue Department figures released on Monday, the revenues from direct taxes continue to be in line with the government’s fiscal targets, since they inched up 0.3% to €1,013....
18/08/2008