Paphos mayor Phedonos begins re-election campaign
Phedonas Phedonos formally announced his campaign for re-election as Paphos mayor.
DISY
Parliament misled over 2019 tax legislation, audit office reveals
The Audit Office has requested a disciplinary investigation from the Ministry of Finance due to misleading statements made by ministry officials to Parliament regarding a 2019 bill proposal by DISY for deferred taxation. The report reveals that a specific banking institution benefited from the legislation, causing significant revenue loss to the state. The Tax Department’s 2022 report highlights that Parliament received incorrect information from the Ministry of Finance officials, resulting in the state losing millions in revenue. The Audit Office believes that Parliament was not adequately informed and was misled about the financial impact of amending the main law. Additionally, the report mentions implications such as converting accumulated losses into credits amounting to €417 million for bank “A” and a guarantee fee payment of approximately €6.25 million to the state. The Tax Commissioner had informed Parliament that no revenue losses were expected, and the Ministry of Finance spokesperson stated that the proposed regulations would have no fiscal impact. The Audit Office has called for an administrative investigation to determine responsible officials and conduct a disciplinary investigation for negligence.
Warehouse flood ruins , €880,000 worth of medicines
– Government officials estimated the damage to medicines in the flooded warehouse at €880,000.
Marios Tselepos leaves DISY
Marios Tselepos has requested to be removed from the membership register of DISY, indicating his intention to run for president of the Paphos regional organization. He is expected to announce his decision on April 9th.
Cash flows to Cyprus increase, amid money laundering fears
– €90 million out of €101.6 million declared in cash transactions have no prosecutions before court.
– Most cash declarations at airport customs offices are for the purchase of real estate.
– In the beginning of 2023, 25% of entities were designated as high risk for money laundering, terrorist funding, and tax avoidance.
– There is currently no limit on the amount of cash someone can use to purchase something in Cyprus, as long as purchases over €10,000 are declared to the tax commissioner.
Cyprus left without firefighting aircraft
Cyprus currently has no firefighting aircraft available to use in case of a forest fire. The eight aircraft under the forestry department’s service are still being repaired. The state mechanism for dealing with fires will be ready early in June. The planning for firefighting aircraft was not done properly.
Calls for transparency on First Lady, ’s social support fund
Fact: MPs called for more transparency over the social support fund managed by the First Lady during a House ethics committee meeting.
Extended opening hours of afternoon, summer schools
The education ministry announced the extension of the operation hours of afternoon and summer schools to support working parents. Optional afternoon schools will start in September and conclude at the end of June, while summer schools will open on the first Monday after the closure of regular schools and remain operational until the end of July. Children with disabilities will be provided with educational assistants during the summer months. The extension of afternoon schools will cost the government over €1 million.
Doubts raised over development of Larnaca port
The company assigned to expand and restore Larnaca port, Kition Ocean Holdings, has not started any of the works on the €1.2 billion project two years after being assigned. Transport Minister Alexis Vafeades expressed strong concern about the lack of progress and warned that if the company does not honor its contractual obligations, actions will be taken accordingly. The latest information suggests that work on the project may start in May or June.
Three Turkish Cypriot candidates in upcoming EU elections
The European Parliament elections in the Republic of Cyprus allow both Greek Cypriots and Turkish Cypriots to participate on a common ballot. Three Turkish Cypriots are running as candidates under Greek Cypriot political forces for the first time since Cyprus joined the EU in 2004. This development could impact party percentages and potentially determine the lead in the elections. The participation of Turkish Cypriots in the polls is seen as significant, as it signifies acceptance of seeking political representation within the Republic of Cyprus. The inclusion of Turkish Cypriot candidates in the elections may lead to greater participation by Turkish Cypriot voters and could influence the final outcome of the elections. AKEL, the Green Party, and Volt have included Turkish Cypriot candidates on their European election ballots, emphasizing shared principles, goals, and the importance of cooperation between Greek and Turkish Cypriots for the reunification of Cyprus.