Hundreds of fines handed out in Limassol
Fact: Police in Limassol handed out hundreds of fines over the bank holiday weekend, including 20 fines for drink driving and 134 fines for other traffic violations.
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Microsoft to separate Teams and Office globally amid antitrust scrutiny
Microsoft will now sell its chat and video app Teams separately from its Office product globally, following an unbundling in Europe to avoid potential EU antitrust fines. Teams, added to Office 365 in 2017, replaced Skype for Business and became popular during the pandemic for video conferencing. The unbundling addresses feedback from the European Commission and provides more flexibility for multinational companies. Prices for Office without Teams range from .75 to .75 for new customers, while Teams Standalone will cost .25. Microsoft risks antitrust charges and fines for bundling products, with potential fines of up to 10% of its global annual turnover if found guilty.
How businesses are turning ESG into a competitive advantage
Businesses have the power and responsibility to tackle big issues like climate change, inequality, and social injustice.
Fire in Limassol caused by man burning dry weeds
A 33 year old admitted to starting a fire in an attempt to destroy dry weeds outside Ayios Therapon village in Limassol. The fire burned five hectares of vegetation before being extinguished by fire crews. The individual has been remanded in custody as the Limassol CID investigates. Lighting fires without permission in rural areas is a criminal offense with potential imprisonment or heavy fines.
Abuses in Gesy, , €80,000 in fines
The Health Insurance Organisation (Hio) issued €80,000 in fines to over 40 health service providers for abusing Gesy. Over 80,000 requests filed by providers were rejected, totaling around €10 million. Fewer than ten cases are currently under police investigation.
Traffic fines: same penalties, longer payment period
Fact: Out-of-court fines for traffic violations in Cyprus will largely remain the same, but offenders will have more time to pay them, with the deadline for payment increasing from 45 to 60 days.
Ontario 2024 Budget Highlights
Ontario Minister of Finance Peter Bethlenfalvy tabled the province’s 2024 budget on Tuesday, March 26, 2024. The budget, titled “Building a Better Ontario,” includes investments in workers and key public services without raising taxes or fees. The province is investing in infrastructure to get more homes built faster and help keep costs down for families and businesses.
Research shows savings and ROI of indirect tax technology
Automated indirect tax technology can significantly impact an organization’s invoice accuracy, tax department efficiency, and overall profitability.
CySEC slaps two entities with fines totalling , €76,500
– The Cyprus Securities and Exchange Commission (CySEC) imposed fines totaling €76,500 on two entities for various violations in March.
– Treefund AIFLNP V.C.I.C. Ltd was fined €25,000 for violations related to investor protection, disclosure of changes, net asset value calculations, share acquisitions, and failure to submit reports.
– CySEC considered factors such as seriousness of violations and investor protection in determining the fine amount.
– Treefund AIFLNP V.C.I.C. Ltd had not committed similar violations before.
– AIFM Fiduserve Asset Management Ltd was fined €50,000 for violations of the Investment Services and Activities and Regulated Markets Law of 2017.
– Fines were imposed on AIFM Fiduserve Asset Management Ltd for failing to collect necessary investor information, provide required content in periodic statements, notify investors of portfolio value decreases, and disseminate fair and clear information to investors.
Bases police boost efforts to combat illegal bird trapping
Fact: The crime of bird trapping has been reduced by 94 per cent since the establishment of an action plan in 2016.