BBF pioneering sustainable real estate development and innovation
BBF is a leading real estate and development company in Cyprus, with over 145 developments at various stages of design and development.
investment
CI raises Cyprus outlook on lower fiscal risk, better NPLs
Capital Intelligence has revised upwards the sovereign ratings for Cyprus due to a faster than projected decline in general government debt, consistent primary fiscal surpluses, proactive debt management, progress in clearing up non-performing loans in the banking system, and declining government contingent liabilities from the banking sector.
More than , €8bn of ‘major developments’ planned in Cyprus
More than €8 billion of major developments have been planned in Cyprus, with 18 to 20 projects expected to create between 8,000 and 9,000 jobs. The developments will include new marinas, golf courses, technology parks, tourist complexes, medical centers, and other projects. The chairman of the Association of Large Investment Projects stated that his views are aligned with President Nikos Christodoulides and they aim to attract foreign investments and promote the implementation of major development projects. Incentives will be provided to encourage foreign companies to partner with Cypriot companies, and efforts will be made to clean up Cyprus’ name and improve the country’s image in the eyes of investors.
Finanshels launches AI WhatsApp Service for Corporate Tax Registration – My Startup World – Everything About the World of Startups!
Finanshels.com has introduced an AI WhatsApp bot that simplifies corporate tax registration in the UAE, reducing the process to a 4-document upload completed in under 5 minutes. This service, with a fee of 199 AED, aims to democratize tax registration for small and medium business owners, offering an efficient and cost-effective alternative to traditional methods. The project is supported by the Mohammed Bin Rashid Fund and has received positive feedback from users, with over 500 companies already adopting the platform. This innovative solution represents a shift towards digital fluency in the UAE’s commercial sector, aligning with the country’s Vision 2030 goals.
Tax review to avoid an ‘intergenerational tragedy’
Former Treasury secretary Ken Henry is calling for a foundational tax review to address the lack of grip on tax reform by the political class, warning that the rising share of income tax and government spending will burden younger working-age Australians.
Demetris Skourides: Chief Scientist for Research, Innovation and Technology
Cyprus is leveraging AI and machine learning technologies to promote innovation within startups and established industries.
Georgia’s 2024 legislative session: Sine Die tax legislation overview | JD Supra
The Georgia General Assembly passed several significant tax bills during the 2024 legislative session, including the creation of a tax court, reduction of income tax rates, limitations on income tax credit carryforwards, and suspension of the data center sales tax exemption. Bills that did not pass included limitations on the film tax credit.
Saudi Arabia, ’s non-oil business activity grows robustly in March
Fact: Strong demand helped drive non-oil business activity in Saudi Arabia in March, with output accelerating to a six-month high.
The Coming Tax Debate – AAF
The fate of the 2017 Tax Cuts and Jobs Act (TCJA) is a key fiscal decision as most of its provisions expire in 2025. The TCJA focused on corporate taxation, including cutting the corporate tax rate to 21 percent and moving to a territorial system. It also allowed full expensing for investment and research and development, and limited deductibility of interest costs. The TCJA successfully removed tax-based distortions in the corporate sector and led to an increase in investment. Various tax plans propose different corporate tax rates, with Democratic plans suggesting 28 percent, Republican plans keeping it at 21 percent, and a centrist plan proposing 25 percent. All plans aim to make permanent the expensing provisions and suggest additional base broadening if more revenue is needed.
Government to implement comprehensive water policy
The Ministerial Council has approved the National Investment Plan for Water Projects in Cyprus. The plan focuses on implementing a comprehensive water policy that addresses new data and meets the needs for water supply and irrigation. The Ministry of Agriculture, Rural Development, and Environment will coordinate and monitor the plan’s implementation. The plan includes prioritizing projects based on documented needs, better allocation of water resources, nationwide distribution to meet needs, and improved implementation of wastewater system construction. The total budget for the plan is €1.17 billion, with first-priority projects estimated at €721.8 million and completion targeted for 2024-2029. Another 60 projects are under evaluation, estimated at €445.5 million, with start and completion dates in 2025 and 2030.