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Smugglers , ‘advertising Cyprus on social media’

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Smugglers , ‘advertising Cyprus on social media’

Fact: People smugglers are advertising voyages to Cyprus on social media.

Summary: Interior Minister Constantinos Ioannou stated that people smugglers are using social media to advertise voyages to Cyprus. He also mentioned the increasing trend of smugglers setting sail from Lebanon and the challenges in preventing boats from entering Cypriot waters. Additionally, there have been difficulties in returning migrants to Lebanon and efforts to relocate migrants to other European Union member states.

Opinion: Thoughts on the upcoming tax reform

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Opinion: Thoughts on the upcoming tax reform

Tax reform should aim for sustainable finances and economic equity. Personal income tax should include taxing family income, with a tax-free bracket of €25,000 per individual or €50,000 per family. A flat 20% tax on all personal income above the tax-free bracket is proposed. Corporate tax should be leveled at 20% to be competitive and fair. A fair tax on immovable property is suggested to combat tax evasion and incentivize property owners to rent out vacant properties. VAT rates can be adjusted, and a flat road tax per car is recommended to cover road infrastructure costs. Carbon emission taxes should be imposed on fuels to fund carbon reduction and renewable energy initiatives.

Stray dog shelter in Nicosia set to expand

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Stray dog shelter in Nicosia set to expand

Authorities in Nicosia announced plans to enhance and expand a dog shelter serving six municipalities. The shelter, managed by Simba Animal Aid, is Cyprus’ sole municipal shelter for stray dogs.

Cyprus can become a leader in sustainability , – but we can’t afford to be complacent about climate change

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Cyprus can become a leader in sustainability , – but we can’t afford to be complacent about climate change

Marios Tannousis is the CEO of Invest Cyprus, focusing on attracting and facilitating Foreign Direct Investment (FDI) in Cyprus. Cyprus has committed to spending €500 million by 2026 to combat climate change and foster the green transition. Cyprus aims to become the best place in Europe to live, work, and do business by transitioning towards a renewable energy system and implementing Environmental, Social, and Governance (ESG) criteria. The country is strategically positioned to help combat climate change in the Middle East and North Africa regions. Cyprus is working towards becoming a leader in sustainability and developing a circular zero-waste economy.

Vermont Tax Proposals Would Leave the State and Vermonters Behind

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Vermont Tax Proposals Would Leave the State and Vermonters Behind

The text discusses Vermont tax proposals that include adopting the nation’s highest corporate income tax and the second-highest individual income tax.

Cyprus needs an Irish wish

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Cyprus needs an Irish wish

Fact: Alexander Vlahos, a Welsh-Greek actor, played an Irishman in the movie “An Irish Wish” despite Ireland having many fine Irish actors.

Expert: State’s tax system ‘in serious trouble,’ hurts homeowners

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Expert: State's tax system 'in serious trouble,' hurts homeowners

The Legislature established a new appraisal process in 1972 requiring the state to appraise, assess, and equalize the valuation of all property for taxation. However, in recent years, the Legislature has neglected equalization, leading to a shift in taxation burden from corporate and business properties to residential properties. Residential property taxes have increased significantly while corporate and business property taxes have fallen. This has resulted in homeowners paying a larger share of taxes and covering the taxes that aren’t paid by other classes of properties. The state’s current approach to taxing residential properties is based on intangibles like location, while corporate properties are offered exclusions from similar intangible values, resulting in lost revenue and an unfair burden on homeowners.

Underground hideout from nearly 2,000 years ago unearthed in Israel

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Underground hideout from nearly 2,000 years ago unearthed in Israel

Archaeologists in northern Israel have discovered a vast underground hideout built by Jewish villagers almost 2,000 years ago during a revolt against the Roman empire. The hideout includes narrow tunnels and larger rooms designed to accommodate entire families and store precious goods. This is the first Bar Kokhba-era hideout of such size found in the north, suggesting the fighting did not reach the area. The excavation team found a bronze ring that would fit a child’s finger, along with other artifacts that offer insight into life in the Holy Land during that time.

Medicine , ‘worth millions’ destroyed in flood

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Medicine , ‘worth millions’ destroyed in flood

Large quantities of medication, potentially worth millions of euros, were destroyed in a Health Ministry storage facility in Nicosia due to flooding caused by extreme rainfall and hailstorm. The incident occurred on Green Monday, March 18, prompting the removal of thousands more packages to prevent further damage. The health ministry is assessing the extent of the damages, with concerns over possible shortages for patients. Health Minister Michalis Damianou denied any attempt to conceal the incident and attributed it to unpredictable weather, describing it as an “act of God.” An ad hoc committee of pharmacologists has been established to address the damages and take inventory of the affected medicines. The incident is reminiscent of a previous flooding at the Finance Ministry’s basement that knocked out government servers and websites for several days.

Cypriot employers ask for tax overhaul | eKathimerini.com

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Cypriot employers ask for tax overhaul | eKathimerini.com

Employers in Cyprus are advocating for a comprehensive overhaul of the tax system, proposing significant changes aimed at boosting economic activity and competitiveness. They are calling for adjustments to individual tax rates, including reducing taxes on interest earned from savings to 10%, raising the tax-free threshold, introducing a “mortgage relief” program, and granting couples/single parents the option to file taxes separately or jointly. Employers are also pushing for changes to corporate taxation, advocating for the elimination of taxes on certain dividends, raising the corporate tax rate to 15%, and reducing the tax rate on dividends from 17% to 5%. They are also proposing changes to various aspects of the tax system, including lowering the capital gains tax, simplifying transfer pricing rules, and providing tax incentives for companies engaging in mergers and acquisitions, startups, and investments in the research and green sectors. Additionally, they are prioritizing green taxation with recommendations for tax breaks for investments in eco-friendly industries and incentives for purchasing energy-efficient buildings and solar panels.