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The battle for Nicosia’s municipality

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The battle for Nicosia’s municipality

The showdown between Tornaritis and Prountzos in the capital city is significant for the party leaderships of the collaborating parties. DIPA has a strong interest in the election because the new Municipality of the capital is a key region for them. The leaderships of DIKO and DIPA were not enthusiastic about Andreas Konstantinou as a candidate, leading to the emergence of Nikos Tornaritis as a candidate. Charalambos Prountzos is an independent candidate who is seen as a lifeline to AKEL. Panagiotis Mentzis, supported by the Green Movement, is also a candidate in the race. Konstantinos Demetriades, son of the historic Mayor of Nicosia, is another candidate.

Tyres set on fire under Limassol traffic cameras

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Tyres set on fire under Limassol traffic cameras

Fact: Police and fire services in Limassol were on high alert after a number of tyres were set on fire on a main road. Two minors were implicated and taken to a police station, with their parents being notified.

Body armour made from silk is being developed

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Body armour made from silk is being developed

Fact: The idea of using silk to make bulletproof vests dates back centuries, with the first proposal made by German polymath Gottfried Wilhelm Leibniz in the 17th century.

Easter bonfire , ‘high risk’ due to strong winds

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Easter bonfire , ‘high risk’ due to strong winds

Strong winds across Cyprus pose a risk to homes, infrastructure, and human lives during the traditional bonfire on Easter Saturday.

No, beetroot isn, ’t vegetable Viagra

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No, beetroot isn, ’t vegetable Viagra

Fact: Beetroot may give some modest boost to sex for men and women, likely by helping circulation, but it’s unlikely to transform your sex life or act as vegetable Viagra.

Our View: Kition Ocean Holdings cannot be trusted

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Our View: Kition Ocean Holdings cannot be trusted

The government has been pushed into a tight corner by Kition Ocean Holdings, the company responsible for developing Larnaca port and marina, with a contract estimated at €1.2bn. Despite efforts to resolve disputes, Kition failed to pay the €4.2m operation and management guarantee as agreed. The company has shown arrogance and disregard for the legislature, leading to a stalemate in the project. The government is hesitant to terminate the contract due to potential legal battles and delays in finding a new company to take on the project. Transport Minister Alexis Vafeades is seeking advice on how to proceed with the situation.

Amazon results beat estimates, revenue forecast misses

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Amazon results beat estimates, revenue forecast misses

Amazon.com reported quarterly results above Wall Street’s expectations, with CEO Andy Jassy highlighting the big opportunity in servicing AI customers. The company’s first-quarter sales increased by 13% to 3.3 billion, and net income more than tripled to .4 billion. Amazon expects revenue of 4.0 billion to 9.0 billion for the current quarter ending June. AWS, the largest provider of cloud-computing services, posted a 17% rise in revenue to .0 billion in the first quarter.

American opinion: Biden tax plan would pummel average Americans

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American opinion: Biden tax plan would pummel average Americans

The Biden tax plan includes increasing the U.S. corporate tax rate by one-third to 28 percent and proposing a 40 percent leap in the corporate alternative minimum tax.

Calculating Allocation Factor for Illinois Franchise Tax Purposes

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Calculating Allocation Factor for Illinois Franchise Tax Purposes

The text provides a detailed explanation of the Illinois State Franchise Tax Allocation Factor, which is crucial for calculating the correct amount of Franchise Tax owed by a business. The Allocation Factor is composed of two central figures – a numerator and a denominator, representing taxable activity attributable to Illinois and business activity conducted everywhere, respectively. The text also delves into the calculation of Gross Assets, Gross Revenues, Illinois Assets, and Illinois Revenues, providing rules and guidance for each category. Failure to calculate the Allocation Factor correctly can lead to over or underpayment of Franchise Tax, triggering penalties, interest accrual, and potentially jeopardizing a business’s good standing in Illinois.

Weekly IRS Roundup April 22 – April 26, 2024 | JD Supra

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Weekly IRS Roundup April 22 – April 26, 2024 | JD Supra

The IRS released guidance on proposed regulations for transferring tax return information to the US Census Bureau and disclosed additional tax return information to the US Secretary of Commerce.