Finance Minister Abul Hasan Mahmood Ali proposed income tax exemption for freelancers in the proposed 2024-25 financial year budget. “As a supporter of building Smart Bangladesh, I propose to exempt from tax the income arising from any of the following business activities of a resident individual or a non-resident Bangladeshi natural person, for three years, on … Read more
Unhedged podcast episode: ‘The billionaires’ tax’[MUSIC PLAYING]Robert ArmstrongThe G20 group, which represents the world’s largest economies, is discussing a billionaires’ tax for the first time. Today on the show, why are the very, very rich so very, very rich? Is it a problem and what should we do about it? This is Unhedged, the finance … Read more
President Nikos Christodoulides received delegations from associations involved in the halloumi making process. The lack of trust was evident during the meeting, which lasted about three and a half hours. The government’s objectives are to preserve halloumi as a PDO and its status as the main export product of Cyprus. The dialogue will continue with new rounds of meetings under the Minister of Agriculture, and decisions will be made soon with these objectives in mind.
A new influx of arrivals will not be allowed by the government in response to mounting criticism over the handling of 27 migrants stranded in the buffer zone. The migrants, including women, children, and unaccompanied minors, are from Afghanistan, Iran, Sudan, and Cameroon. The government’s handling of the matter has been criticized for violating international law. The UNHCR has warned that the asylum seekers are living in tents and exposed to extreme weather without access to decent living conditions.
Approximately 30,000 tourists who were expected to visit Cyprus are impacted by the bankruptcy filing of travel provider FTI. This affects around 160 hotels and other businesses in Cyprus that collaborated with the Group. Bookings made through FTI are being cancelled, with efforts to cover part of the trips still underway. The impact on the tourism industry in Cyprus is significant due to various challenges the industry is facing, such as the war in Israel, economic recession in the UK, upcoming elections in the UK, the European Championship, and the Olympic Games.
Michael Saylor did not pay any income taxes to Washington despite living there from 2005 through 2020.
Fact: Cyprus is among the EU countries with the lowest performance in the time required to resolve civil cases.
A group of United Nations experts are urging countries to recognize a Palestinian state to help achieve peace in the Middle East. Spain, Ireland, and Norway have officially recognized a Palestinian state, angering Israel. The experts believe recognizing Palestine is crucial for lasting peace and security in the region. Israel has faced isolation after months of conflict in Gaza, with the 7th October attack being the deadliest in its history.
Fact: The digital advertising industry, supported by AI, is projected to generate €175 billion annually by 2032.
Health Minister Michalis Damianou is working on legislation to set up university clinics, facing opposition from the University of Cyprus and the government doctors’ union Pasyki. The main disagreement is about who should run the clinics, with the University of Cyprus wanting academic doctors in charge, while Pasyki prefers experienced hospital doctors. Damianou believes in a gradual approach where academic doctors work alongside hospital doctors and eventually take over. He does not agree with the University of Cyprus’ stance and emphasizes the stability of the hospitals and public sector doctors.