Bank of Cyprus named best bank, best investment bank
Bank of Cyprus was named the Best Bank and Best Investment Bank in Cyprus by Global Finance in 2024.
investment
Twin banking honours for BoC at 2024 Global Finance awards
Global Finance named Bank of Cyprus the Best Bank and Best Investment Bank in Cyprus in its 2024 awards.
Cyprus building permits up , — value reaches €470.19 million
Cyprus’ construction sector has shown significant growth in early 2024, with an increase in building permits issued. In February alone, 706 permits were granted, contributing to a total of 1,293 permits in the January-February period. This represents a 13.1% increase compared to the previous year. The total value of permits increased by 16.9%, with a total area increase of 14.3%. The economic value of permits reached €248.9 million in February and €470.19 million over the two months. Residential building permits rose by 8.6% and non-residential buildings saw notable growth as well. Civil engineering projects had a significant increase in permits issued.
How Did the TCJA Affect Corporate Tax Revenues?
Fact: The 2017 Tax Cuts and Jobs Act (TCJA) lowered the top corporate tax rate from 35 to 21 percent, leading to a sharp drop in corporate tax revenues initially, but they returned to pre-TCJA levels starting in 2021.
Can investment tax reform boost economic growth? – Economics Observatory
Taxation, especially on capital income such as corporate and capital gains taxes, can reduce investment, distort resource allocation, and hinder economic growth. High government debt and stagnant productivity in the UK make the relationship between tax policies and growth crucial. One way to increase growth could be through tax reforms that promote investment and innovation without significantly reducing government revenue. Expanding full expensing to all forms of investments and adjusting dividend and capital gains tax rates could be potential strategies to boost growth. The balance between higher revenues from corporate income taxes and increased investment from dividend and capital gains taxes is a significant challenge for policymakers.
Cyprus showcased as investment destination in Middle East
Invest Cyprus showcased Cyprus as a reliable investment destination with a stable business environment and favorable tax regime during its participation in the Annual Investment Meeting (AIM) in Abu Dhabi.
US Senator Robert Menendez goes on trial for corruption, no jurors chosen
Jury selection began in the corruption trial of U.S. Senator Robert Menendez, who faces 16 criminal charges including bribery, fraud, obstruction, and acting as a foreign agent.
Inside Cyprus, ’ gaming boom — interview with Ilya Karpinskiy
Ilya Karpinskiy is a seasoned veteran in the gaming industry, involved in various companies and ventures. Cyprus has become a popular location for video game developers from Eastern Europe due to its favorable environment and government support. Cyprus is also seen as a significant location for venture investments, offering a unique legal framework. Owlcat Games, founded by Ilya, focuses on developing premium PC console RPG titles. The Games Fund, co-founded by Ilya, supports portfolio companies by prioritizing founders’ vision and expertise. Free-to-play games and premium titles present different challenges and opportunities in the gaming industry. The Games Fund aims to become the number one gaming VC, fostering innovation and talent in the gaming industry globally.
Cryptocurrency and taxes: What a business owner needs to know
Cryptocurrency is a digital currency that operates on a decentralized system through a network of computers called nodes. It relies on blockchain technology and encrypted algorithms for security. There are various types of cryptocurrency, such as Ethereum, Litecoin, Ripple, and Stellar, with fluctuating values. Trading in cryptocurrency can be done directly, through decentralized exchanges, or centralized exchanges. Cryptocurrency taxation varies by country, with earnings from mining or payments being taxable. Cryptocurrencies are typically treated as property for income tax purposes, resulting in potential capital gains taxes. The tax implications of cryptocurrencies are complex and evolving, requiring efficient tracking and verification tools. Regulatory attention is needed for anti-money laundering measures and know-your-customer procedures in the cryptocurrency market. Cryptocurrency is considered property and taxable like shares, with the industry rapidly evolving and becoming more complex.
InvestCyprus at AIM Congress in Abu Dhabi
Invest Cyprus participated in the Annual Investment Meeting 2024 in Abu Dhabi to promote Cyprus as an investment destination and gateway to the EU. The delegation, led by CEO Marios Tannousis, focused on attracting investments, creating job opportunities, and strengthening the Cypriot economy. They also visited Kuwait to discuss investment opportunities and challenges with high-profile officials.