government

Canada just started the largest tax increase you’ve never heard of – The Hub

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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.

EU excess profit tax could generate over €100 billion per year, study finds

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EU excess profit tax could generate over €100 billion per year, study finds

Fact: A permanent tax on European companies’ excess profits could generate more than €100 billion per year, or over half of the EU’s annual budget.

New platform in the works to monitor hospital infections

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New platform in the works to monitor hospital infections

The government plans to launch an electronic platform to monitor healthcare-associated infections. The current methods of monitoring infections in Cyprus are not thorough enough, and the new platform will help hospitals carry out surveillance electronically so the data can be monitored by the health ministry. Cyprus has the highest rate of healthcare-associated infections in the EU and EEA, as well as the highest rate of antimicrobial use.

Strovolos lauded for boost to gender equality

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Strovolos lauded for boost to gender equality

Gender equality commissioner Josie Christooulou praised the Strovolos municipality for the progress it has made to boost gender equality. The municipality completed four out of five actions set out in an annual action plan for gender equality, including providing facilities such as a breastfeeding and pumping room for new mothers. Strovolos mayor Andreas Papacharalambous emphasized that the breastfeeding and pumping room is accessible to new mothers who work for the municipality or are visiting the building for another reason. The ultimate goal is to change attitudes and promote a more inclusive and humane treatment of all individuals. Gender equality is a government priority that affects daily lives.

US highlights Cyprus’ vital role in transfer of Gaza aid

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US highlights Cyprus’ vital role in transfer of Gaza aid

Cyprus is playing a significant role in coordinating international efforts to deliver humanitarian aid to Gaza. The United States is involved in creating a maritime humanitarian corridor to Gaza, with the construction of a temporary pier for aid transfer. Cyprus is facilitating the use of its port facilities and leading coordination efforts with various countries, including the US, the UK, the EU, and the United Arab Emirates. The European Union is actively participating in the corridor, with discussions ongoing to increase overall assistance. The construction of a pier on the Gaza coast will enable the mass transfer of aid to Palestinians in Gaza, emphasizing that the aid will be transported through sea, land, and air routes.

El Salvador mined nearly 474 bitcoins, adding to state crypto holding, in last three years

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El Salvador mined nearly 474 bitcoins, adding to state crypto holding, in last three years

El Salvador has mined nearly 474 bitcoins since 2021 thanks to a volcano-fueled geothermal power plant, bringing the government’s total bitcoin portfolio to nearly 4 million at current prices.

Paphos Chamber of Commerce urges action on airport road

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Paphos Chamber of Commerce urges action on airport road

The Paphos Chamber of Commerce urged the government to speed up developments for the construction of a road linking Paphos airport to tourist areas, including the town centre.

Increase to capital gains inclusion rate has led some business owners to re-evaluate their plans

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Increase to capital gains inclusion rate has led some business owners to re-evaluate their plans

The change to the capital gains inclusion rate has created distress among those approaching retirement, particularly business owners, who now face a much higher tax bill than they had planned.

Slovak PM injured in shooting attack [PHOTOS+VIDEO]

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Slovak PM injured in shooting attack [PHOTOS+VIDEO]

Slovak Prime Minister Robert Fico was shot and wounded in the abdomen after a government meeting in Handlova. Police detained a man and Fico was hit by one of the four shots fired. Emergency services sent a helicopter for the 59-year-old prime minister. President of the European Commission Ursula von der Leyen condemned the attack. Fico was meeting with the Slovak government as part of a country tour. Slovakia’s biggest opposition party canceled a planned protest following the shooting.

Slovak PM Fico in life-threatening condition after assassination attempt

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Slovak PM Fico in life-threatening condition after assassination attempt

Slovak Prime Minister Robert Fico was shot and wounded in an attempted assassination during a government meeting in Handlova. He was rushed to the hospital and then transported by helicopter for urgent treatment. The attack was condemned by European leaders, including Ursula von der Leyen and German Chancellor Olaf Scholz. The shooting led to the cancellation of a planned protest against government public broadcaster reforms.