improvement

Inheritance Tax Will Lead To Economic Chaos In India: Economist Gautam Sen

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Inheritance Tax Will Lead To Economic Chaos In India: Economist Gautam Sen

– Economist Gautam Sen believes that the notion of an inheritance tax is unrealistic and labeled Congress leader Rahul Gandhi’s suggestion of a “wealth survey” as impractical.
– Sen expressed concerns that conducting surveys of all households and businesses for wealth redistribution would result in economic turmoil.
– Around 2.4 per cent of people pay taxes in India, of which not more than 1.2 million have personal assets.
– Sen mentioned that the very rich individuals in India may migrate to Dubai to avoid taxes if wealth redistribution measures are implemented.
– Sweden removed its inheritance tax and saw an increase in wealth, economic growth, and tax collection.
– Sen believes that the current combination of wealth creation and redistribution in India is working well.
– Congress leader Sam Pitroda had advocated for exploring inheritance laws in India, drawing parallels with the United States where there is no inheritance tax, but rather estate duty and gift tax paid by a small percentage of deceased individuals.

Our View: Akel, ’s May Day message may have completely missed the mark

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Our View: Akel, ’s May Day message may have completely missed the mark

Fact: Sotiroulla Charalambous, the general secretary of the Akel union federation Peo, discussed important Marxist ideas such as the exploitation of workers and the class struggle in an interview given on May Day.

New task force to combat environmental crime in Cyprus

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New task force to combat environmental crime in Cyprus

Fact: A task force is being established in Cyprus to carry out inspections on behalf of the environment department in an effort to combat environmental crime.

Ministry acknowledges need to improve startup visa scheme

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Ministry acknowledges need to improve startup visa scheme

Fact: The innovation certificate offers a 50 per cent tax exemption for investments in innovative businesses, with a total of 38 certificates granted to qualifying applicants last year.

Major developments underway in Cyprus

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Major developments underway in Cyprus

Cyprus is experiencing a significant development boom with billions of euros being invested in various projects, including infrastructure improvements, new marinas, hotels, medical centers, university buildings, golf courses, schools, and residential properties. These projects are expected to bring multiple benefits to the country, transforming its landscape and contributing to economic growth. Major investments include golf resorts like Limassol Hills and Eagle Pine, as well as marinas such as Larnaca Marina and the upcoming Paralimni Marina. Education-related developments are also underway, and road infrastructure projects across the island are crucial for improving residents’ quality of life.

Crossing point congestion , ‘the Greek Cypriots’ fault’

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Crossing point congestion , ‘the Greek Cypriots’ fault’

– Congestion at crossing points between Cyprus’ two sides is the fault of the Greek Cypriot side.
– The Turkish Cypriot side has widened the road at the Ayios Dhometios crossing point to facilitate quicker crossings.
– The Turkish Cypriot side suggested opening a new crossing point for commercial vehicles only in Mia Milia to reduce congestion at Ayios Dhometios.
– The proposal for a new crossing point in Mia Milia met a stumbling block when the Greek Cypriot side suggested a crossing point be opened in Kokkina.
– The north’s transport minister indicated that opening new crossing points would require 1,500 new police recruits to cover the gaps in personnel.

Moneyval reports improvements in money laundering measures

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Moneyval reports improvements in money laundering measures

Cyprus has welcomed a Moneyval report that acknowledged improvements in tackling money laundering and terrorism financing, but also identified existing shortcomings.

President says government will continue to stand by workers

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President says government will continue to stand by workers

President Nikos Christodoulides assured workers that the government will continue to stand by them in every fair demand.

Cyprus, ’ cash reserves to aid government amid global uncertainty

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Cyprus, ’ cash reserves to aid government amid global uncertainty

The Public Debt Management Office (PDMO) released its annual report for 2023, stating that the robust cash reserves of the Republic of Cyprus are expected to support the government in addressing uncertainty in the global economy. The report highlighted that the strong cash position of Cyprus will help limit negative impacts on cost-risk indicators to moderate levels. Additionally, the reduction in debt in 2023 amounted to €740 million, mainly due to strong economic growth. The majority of Cyprus’ short-term debt is distributed over the period 2024-2028, with 2028 representing the year with the highest annual debt maturity concentration. The PDMO intends to issue at least one benchmark bond per year to cover the government’s financing needs. The surpluses of the Social Insurance Fund are invested in the government annually, with investments amounting to €10.61 billion at the end of 2023.

First-quarter figures for Malaga province suggest another record year for tax revenue | Sur in English

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First-quarter figures for Malaga province suggest another record year for tax revenue | Sur in English

Fact: Authorities in Malaga province have collected record taxes for three years in a row, with tax revenues increasing by 65.8% in the first quarter of 2024 compared to the same period last year.