Raising a glass to sustainability in the spirits industry
Fact: Yianna Christou explains how beverage companies are embracing ESG principles in their marketing strategies to enhance brand reputation and foster consumer loyalty.
transparency
Cyprus considers raising retirement age, ending multiple pensions for officials
Cyprus is debating pension reform, with a focus on modernizing the system and addressing sustainability concerns. Multiple pensions for government officials have emerged as a key point of contention, representing less than 10% of the strain on the system. The Ministry of Finance proposes raising the retirement age for government officials and parliamentarians to 65, aligning them with the general population. The International Labour Organisation is studying the Cypriot pension system and has highlighted the need for a balanced and sustainable system. Mercer analyzed 47 global pension systems, with European models performing the best. British Prime Minister Liz Truss sparked opposition for claiming a large annual pension after serving for only 44 days. Former UK Prime Ministers can claim the Public Duty Cost Allowance, but holders of the three great offices of state no longer receive a pension of half their last salary upon leaving office.
Larnaca port and marina €1.2 billion project faces growing uncertainty
The future of the €1.2 billion investment in the port and marina of Larnaca is uncertain, causing concerns among stakeholders. Larnaca Mayor and Chamber of Commerce president express disapproval over the lack of transparency in the agreement between the government and Kition Ocean Holdings. Larnaca MPs are pressuring for more information and updates on the project, highlighting the need for transparency and the importance of keeping stakeholders informed.
Unlocking Value: ESG integration in Cyprus propels sustainable finance forward
Banking and financial institutions are introducing a tool to assess companies’ compliance with Environmental, Social, and Governance (ESG) criteria in Cyprus.
How investment firms shield the ultrawealthy from the IRS – ICIJ
The fact described in the text is that the IRS has received a major infusion of funding, including billion in 2022, to address the issue of large partnerships used by the ultrawealthy to hide income and avoid paying taxes.
Starbucks paid £7.2m in UK corporation tax despite gross profit of £149m
Starbucks paid a low £7.2m in UK corporation tax last year despite making a gross profit of £149m on sales of £548m in Britain.
Congress Manifesto 2024: Party Promises To Enact Direct Taxes Code, Abolish Angel Tax
The Congress Party has vowed to initiate a comprehensive overhaul of India’s tax system, labeling the past decade as a period of ‘taxation gone berserk’.
Palta: pioneering ethical health tech with global impact from Cyprus
Fact: Palta is a London and Cyprus-based health and well-being technology company led by co-founder and CEO Yuri Gurski.
Georgia’s 2024 legislative session: Sine Die tax legislation overview | JD Supra
The Georgia General Assembly passed several significant tax bills during the 2024 legislative session, including the creation of a tax court, reduction of income tax rates, limitations on income tax credit carryforwards, and suspension of the data center sales tax exemption. Bills that did not pass included limitations on the film tax credit.
Saint Habakkuk Monastery funded Isaias’ archbishopric campaign
The Monastery of Saint Habakkuk in Fterikoudi is involved in a financial scandal, with two monks claiming they were pressured to provide money for the archepiscopal election campaign of Bishop Isaias. The Bishop’s representatives deny the accusations, stating that the funds were a loan. A financial audit of all monasteries within the Bishopric of Tamassos and Oreinis is underway in response to the scandal, with the aim of ensuring transparency and proper financial management.