income

Cypriot employers ask for tax overhaul | eKathimerini.com

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Cypriot employers ask for tax overhaul | eKathimerini.com

Employers in Cyprus are advocating for a comprehensive overhaul of the tax system, proposing significant changes aimed at boosting economic activity and competitiveness. They are calling for adjustments to individual tax rates, including reducing taxes on interest earned from savings to 10%, raising the tax-free threshold, introducing a “mortgage relief” program, and granting couples/single parents the option to file taxes separately or jointly. Employers are also pushing for changes to corporate taxation, advocating for the elimination of taxes on certain dividends, raising the corporate tax rate to 15%, and reducing the tax rate on dividends from 17% to 5%. They are also proposing changes to various aspects of the tax system, including lowering the capital gains tax, simplifying transfer pricing rules, and providing tax incentives for companies engaging in mergers and acquisitions, startups, and investments in the research and green sectors. Additionally, they are prioritizing green taxation with recommendations for tax breaks for investments in eco-friendly industries and incentives for purchasing energy-efficient buildings and solar panels.

Minister sets sights on boosting agriculture, ’s share in Cypriot GDP

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Minister sets sights on boosting agriculture, ’s share in Cypriot GDP

Fact: Agriculture Minister Maria Panayiotou stated that the ministry’s goal is to increase the sector’s contribution to the country’s GDP, enhance sustainability, and promote Cypriot products in new markets.

Corporate Tax Rates and Legislation: Q1 2024 Accounting status

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Corporate Tax Rates and Legislation: Q1 2024 Accounting status

– Legislative changes affecting income taxes from January 1 to March 31, 2024 are outlined.
– Federal Bill C-59, related to the 2023 federal budget, received second reading on March 18, 2024.
– The federal budget will be presented on April 16, 2024.
– Some provinces and territories have tabled legislation to implement budget measures, but none relate to general corporate income tax changes.
– No significant updates related to the accounting for income tax occurred from January 1 to March 31, 2024.

Health minister discusses key Gesy issues with medical association

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Health minister discusses key Gesy issues with medical association

Health Minister Michael Damianos met with a delegation from the Pancyprian Medical Association to discuss key healthcare issues, including the need for comprehensive planning for the national health scheme Gesy, addressing the strengthening of the legislative framework, tackling abuses, covering non-prescription drugs for low-income pensioners, improving public hospitals, and regulating working conditions for employees of the Cyprus Oncology Centre.

Corporate profit bonanza

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Corporate profit bonanza

After-tax corporate profits reached an all-time high of .8 trillion in the last three months of 2023.

Centre met revised tax collection targets for fiscal 2024: Government Official

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Centre met revised tax collection targets for fiscal 2024: Government Official

The Centre has met its tax collection target of over Rs 34.37 lakh crore for 2023-24, with net direct tax collections reaching over Rs 18.90 lakh crore as of March 17. Gross GST collection in March 2024 was the second-highest ever at Rs 1.78 lakh crore, with a year-on-year growth of 11.5 percent. Total gross collection for FY24 stood at Rs 20.18 lakh crore, surpassing the revised budget estimate.

Rich and retired: the boom beneficiaries who finance Germany’s far right

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Rich and retired: the boom beneficiaries who finance Germany’s far right

Germany has seen a decline since the 1970s, with the far-right Alternative for Germany (AfD) party gaining support. The party relies on private donations, with wealthy, elderly backers like Hartmut Issmer, who gave 250,000 euros last year. These donors, mainly businessmen, have views they are unafraid to share and are disproportionately influential. AfD’s treasurer mentioned a positive trajectory for donations, but if the party fails to replace its ageing donor base, that could change. The party is under scrutiny for extremism and racism, making it toxic for potential sympathizers. Mainstream parties receive more significant donations from large companies and associations compared to the AfD.