The police warn the public about fake email messages pretending to be from the Cyprus Police. The messages claim recipients are involved in criminal offenses and urge them to respond. The police advise adjusting email settings to mark these messages as spam and not to engage with them.
The biggest collective owners of UK shares have warned the London Stock Exchange against weakening its listing rules and governance standards to attract fresh business.
A proposal to reform San Francisco’s business tax formula is being considered for approval by voters in November. The proposal would modify the gross receipts tax to focus on a company’s sales instead of its on-site headcount, potentially leading to tax cuts for small businesses and making it more attractive for large companies to keep their workers in the city. The plan is expected to be revenue neutral over time, with initial declines in business tax revenue before increases in the following years. The proposal would also raise the threshold for exemption from gross receipts taxes for small businesses. The effort to reform the tax structure has gathered momentum over the past year and has involved major San Francisco employers, labor unions, and other stakeholders in negotiations. Labor unions are not expected to actively oppose the measure’s passage.
Nicosia rejects Chevron’s improved optimization plan for the Aphrodite offshore gasfield, insisting that the 2019 development plan is binding. Chevron’s proposed revisions aim to reduce costs and output, but Nicosia is not satisfied with the lower revenue implications. The partners are considering their options in response to Nicosia’s rejection.
The text is a letter to the editor of the Herald Times Reporter advocating for support of the Corporate Tax Dodging Prevention Act introduced by U.S. Sen. Bernie Sanders and U.S. Rep. Jan Schakowsky. The act aims to close loopholes and ensure large profitable corporations pay their fair share in taxes, raising over .3 trillion over 10 years for investment in working families and communities.
The IRS released guidance on proposed regulations for transferring tax return information to the US Census Bureau and disclosed additional tax return information to the US Secretary of Commerce.
Cyprus has given Chevron-led consortium six months to make improvements to their plans for extracting gas from an offshore field. The consortium, which includes partners from Israel and Shell, had submitted a new field development proposal that Cyprus believes needs enhancements. The Aphrodite field, discovered in 2011, holds an estimated 3.5 trillion cubic feet of gas. Chevron values its relationship with Cyprus and stakeholders and is committed to progressing the project.
The Minister of Interior rejected the hierarchical appeal against the construction of a monastery in a protected area in Cape Greco. The Bishopric of Constantia can either appeal to the judiciary or comply and demolish the building. The Minister offered to consider exchanging church land to relocate the monastery and protect the natural environment. If the Bishopric chooses to rectify the illegalities, it must follow the terms set by the Environmental Authority.
The interior ministry rejected an appeal by the Famagusta Constantia bishopric to build a monastery on environmentally protected land in Cape Greco.
Cyprus has rejected the new proposal by consortium Chevron, NewMed Energy, and BG Cyprus (Shell) to develop the ‘Aphrodite’ natural gas field in block 12 of the exclusive economic zone (EEZ). The government deemed the proposal inadequate and requested the consortium to state its consent within six months on specific actions aiming to develop the gas field.