UK Full Expensing: Understanding UK Capital Allowances Policy Skip to content Home • Blog • Understanding Full Expensing in the United Kingdom United Kingdom is nearing snap elections on July 4, 2024, and taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the … Read more
The Tiruchi Corporation has decided to implement UPI to collect taxes, fines and other charges from the tax payers and citizens. Property tax, professional tax, water charges, underground drainage user charges and cable television fee are among the major sources of revenue of the Corporation.In addition to them, it generates revenue from commercial ventures such … Read more
Fact: Electricity bills have increased by 2.5 per cent compared to the previous month due to renewable energy targets.
The new permanent residency by investment program in Cyprus allows applicants to make investments in real estate, share capital of a company, or units of a collective investment organization. Applicants must also prove they have a secure annual income of at least €50,000. The program promotes foreign investments in Cyprus, supporting local businesses and regional development.
The major projects in the Larnaca port and marina, part of a €1.2 billion investment, are facing delays with the company breaching terms of the agreement. The agreed timeline for the first phase includes various construction works in the port, marina, infrastructure, and real estate development. The company requested an extension to start construction in June 2024, but failed to renew a guarantee and requested changes in project order. A court order has temporarily prohibited the state from collecting money from other guarantees, with a hearing scheduled for April 15. The President of the Republic will meet with company officials to find a solution, as the future of the investment hangs in the balance.
Limassol is losing its position as Cyprus’ top investment hub to Larnaca, according to the ‘Cyprus Real Estate Market Report for the 2nd Semester 2023’ by Danos & Associates. Commercial properties in Cyprus are increasingly being used for professional purposes and workspaces, with potential disadvantages such as damages and malfunctioning spaces. However, the value of commercial properties tends to increase at a faster rate than residential properties. Demand for office spaces in Limassol has increased, with the average office value rising by 42% from 2015 to 2019. The real estate sector contributes significantly to the Cypriot economy, with a total of 5,974 transactions amounting to €1.52 billion in property sales in the second quarter of 2023. Nicosia and Famagusta provinces saw an increase in property value, while Limassol experienced a significant decrease. The abolition of the citizenship by investment program did not affect the real estate market in Cyprus, which continues to grow due to strong domestic demand and returning foreign investors.