Paphos retains crown for property sales to overseas buyers
Paphos remains the top city in property sales to overseas buyers in 2024, with 665 sales.
Economy
Demetriades remains as head of association of large investment projects
Fact: Andreas Demetriades will continue to lead the Cyprus Association of Large Investment Projects.
‘, Rebuild Britain’: Labour sets out first steps for government
Keir Starmer, the leader of Britain’s opposition Labour party, outlined six priorities for his party if they win the upcoming national election.
Paphos tops property sales to foreign buyers
Paphos leads in property sales in Cyprus in 2024, with 665 transactions out of a total of 1,962 island-wide. It also attracts the most non-EU buyers, with 487 purchases, and EU buyers, with 178 purchases.
Tax Reform Offsets Shouldn’t Offset Economic Growth
The text discusses the importance of prioritizing permanence for pro-growth tax reforms and avoiding economically harmful payfors. It mentions that raising the corporate income tax rate is not a recommended option for fiscally responsible and pro-growth tax reform.
Canada just started the largest tax increase you’ve never heard of – The Hub
The federal budget focused on increasing capital gains taxes to address generational fairness, but there are other tax changes coming that have been overlooked. One significant change is the increase in taxes on new business investment throughout the Canadian economy, which will lower investment and productivity. The temporary tax changes implemented in 2018 to allow faster write-offs for new investments are being phased out, leading to an increase in the effective tax rate on new investment in Canada. This will result in smaller investment returns and less capital for Canadian workers and businesses, ultimately lowering productivity growth. To boost productivity, it is suggested that governments should consider enlarging tax incentives for business investment rather than reversing the 2018 tax changes.
Building permits on the rise in February
The number of building permits in Cyprus rose to 706 in February, up from just below 600 each in January and December.
Bank of Cyprus posts , €133 million profit —new lending hits €676 million
The Bank of Cyprus released its financial results for the first quarter of 2024, reporting a profit after tax of €133 million.
Much to be done to crackdown on construction waste, minister says
Construction and demolition debris makes up 25-30% of all waste produced in Europe. Measures have been taken in Cyprus to manage this waste, including creating treatment facilities, improving environmental controls, and increasing recycling rates. Despite efforts, illegal dumping continues to be a problem.
Cyprus economy sees highest growth rate in five quarters
The Cypriot economy exhibited its highest growth rate in the last five quarters during the first quarter of 2024, with Gross Domestic Product (GDP) increasing by 3.5 per cent compared to the same quarter of 2023.