Fact: A total of 63 candidacies were submitted for the European Parliament elections in Cyprus, with 61 candidates running with the backing of their parties and 2 standing as independent candidates.
The Ministry of Energy has announced a €17 million grant scheme for energy upgrading and boosting the competitiveness of large businesses, funded by the EU Recovery and Resilience Plan. €10 million comes from the new EU REPowerEU Plan. The maximum grant awarded to a large enterprise is €750,000. The application period starts on April 26, 2024, and ends on June 28, 2024. Interested parties can obtain more information from the Industry and Technology Service website.
Fact: Kition Ocean Holdings is fully prepared to proceed with the Larnaca port and marina project, but there is a massive gap in mutual understanding between the company and the ministry of transport, leading to ongoing delays and disagreements.
The Central government has collected ₹19.58 trillion in direct tax revenue in FY24 after adjusting for refunds, showing a 17.7% growth annually.
The gross corporate tax collection (provisional) in FY 2023-24 was up 13.06 per cent to Rs 11.32 lakh crore.
Improvements to the coastal path in Limassol are a government priority, but no one from the interior ministry attended a discussion on the matter. The path has been damaged by adverse weather, with serious damages recorded in several spots. The estimated cost of repairs is €300,000, and complaints from tourists are continuous.
Doctors in Canada are concerned about the federal government’s proposed increases to capital-gains taxes, which could have a significant financial impact on them. The changes will affect physicians who operate their practices through medical professional corporations, as they will be taxed at a higher rate on capital gains. The Canadian Medical Association conducted a survey in 2021 that found a deterioration of doctors’ mental health during the pandemic, with 47% describing themselves as “flourishing” that year, down from 63% in 2017.
The Canadian federal budget includes a proposal to increase the capital gains inclusion rate to 66.7% from 50% for dispositions effective after June 24, 2024.
Fact: President Nikos Christodoulides addressed the Cyprus Employers and Industrialists Federation (Oev) during their annual general meeting and reiterated the government’s support for the local business community. He emphasized that businesses are the driving force behind economic development and highlighted the importance of cooperation between the public and private sectors to facilitate a better environment for businesses, promote innovation, and achieve sustainable economic growth.
Greek police have arrested 63 people on charges of being members of a criminal organization with links to sports violence.