here. Despite the fact that the thermometer still reads summer, fall is creeping closer. According to the National Retail Federation, one in five (22%) back-to-school shoppers have already started gearing up for the 2024-25 school year (you can count me as one of them). However, with above-average prices in stores and online, those shoppers are … Read more
President Yoon Suk Yeol announces the Dynamic Economy Roadmap and the Economic Policy Direction for the latter half of the year at the Blue House in central Seoul on Wednesday. [YONHAP] The government plans to reduce corporate and inheritance taxes for companies in the “value-up program” and more than double the number of foreign … Read more
State Tax Changes Taking Effect July 1, 2024 Skip to content taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. changes take effect on January 1, the beginning of the calendar year, for consistency … Read more
It is noticeable how city centres can change from one day to another, so to speak. Larnaca, the “poor” relative of all towns, partly due to its unfortunate vocal pressure groups and some municipal corruption in the past, has been left behind in its development. The very recent upgrade of the original town with numerous … Read more
A pedestrian leaves the entrance of the headquarters of the Federal Board of Revenue (FBR) building in Islamabad — AFP/File Focus on growth, not taxes. Vietnam’s standard corporate tax rate is 20 per cent and preferential tax rates are as low as 10 per cent, depending on factors like investment size and location. High-tech enterprises … Read more
German tourists were the top spenders in Cyprus in March, up from fifth last year, and dished out €779 per person which, based on an average stay of 7.9 days, works out at a cool €98.66 per day, some €30 per day more than their fellow nationals spent on the island in March 2023. School … Read more
Restaurants and bars in Cyprus saw their attendance increase to 75 per cent of their overall capacity during May, according to Neophytos Thrasyvoulou, president of the Federation of Leisure Centre Owners (Osika), who also called on business owners to be more competitive with their pricing.In statements made to the Cyprus News Agency (CNA), Thrasyvoulou explained … Read more
FTI, a German tourism company, has filed for bankruptcy after failed negotiations with the government. The bankruptcy affects 11,000 employees and many travelers who have booked trips. The company had been struggling even before the pandemic and had received financial support from the government and other sources. Efforts are being made to ensure that current vacations can be completed and refunds will be handled by the Travel Insurance Fund.
The Ministry of Labour and Social Insurance has launched a “Holiday Subsidy Scheme for Low-Income Pensioners in mountain region resorts and Pyrgos Tyllirias.” The plan offers fully subsidized accommodation with full board for low-income pensioners at selected resorts during specific dates. Eligible beneficiaries include recipients of the Low-Income Pensioners Support Scheme, Minimum Guaranteed Income recipients, and pensioners with specific income thresholds. Applications can be submitted starting June 3, 2024, until funds are exhausted.
The Council of Ministers approved two subsidised holiday schemes to boost domestic tourism and support low-income residents. The Low-Income Pensioners’ Holiday Subsidy Scheme offers free four-day stays in mountain resorts and Pyrgos Tillyrias for eligible individuals. The Employed Persons’ Leave Subsidy Scheme provides fully subsidised six-day stays for employed persons who received leave benefits in 2023. Labor Minister Yiannis Panagiotou stated that the aim of the schemes is to provide quality services to low-income residents and employees, while supporting mountain resorts and off-season tourism. Application procedures will be announced by the Ministry of Labour and Social Insurance.