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Income Tax Slabs Budget 2024: No Income Tax up to ₹3 Lakh under revised personal income tax rate – Full Details | Mint

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Income Tax Slabs Budget 2024: No Income Tax up to ₹3 Lakh under revised personal income tax rate – Full Details | Mint

Budget 2024: Tabling the Union Budget 2024-25 in Parliament, Union Finance and Corporate Affairs Minister Nirmala Sitharaman announced significant changes in personal income tax rates for the fiscal year 2024-25 to reduce the tax outgo of the masses. The Finance Minister has provided relief to taxpayers by revising the income tax slabs for the current fiscal … Read more

Budget 2024: Sitharaman says 58% tax came from simplified corporate tax regime | Mint

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Budget 2024: Sitharaman says 58% tax came from simplified corporate tax regime | Mint

Budget 2024: Union Finance Minister Nirmala Sitharaman on Tuesday said 58 per cent tax came from simplified corporate tax regime in the financial year 2024.More than two-thirds of individuals availed the new income tax regime, Sitharaman said in the Lok Sabha while presenting the Union Budget for fiscal year 2024-25.She also announced that the government … Read more

Vietnam’s Draft CIT Law: Changes to Incentives and Tax Liability

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Vietnam’s Draft CIT Law: Changes to Incentives and Tax Liability

Vietnam’s draft Corporate Income Tax (CIT) Law proposes changes to incentive eligibility, taxation on capital transfers by foreign investors, and aims to address limitations hindering integration with international best tax practices. Investors and businesses planning market entry or expansion should closely monitor the draft CIT law’s development and prepare for potential impacts on their strategies … Read more

France must keep bond markets on side or face Truss-style meltdown

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France must keep bond markets on side or face Truss-style meltdown

French politicians need to listen to bond markets – and keep them on side – or face a potentially catastrophic ‘Liz Truss scenario’, the CEO of a leading independent financial advisory and fintech has warned. The stark warning from Nigel Green of deVere Group comes as the political chaos in France is driving the gap between French … Read more

160 hotels in Cyprus to be affected by FTI closure

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160 hotels in Cyprus to be affected by FTI closure

Approximately 30,000 tourists who were expected to visit Cyprus are impacted by the bankruptcy filing of travel provider FTI. This affects around 160 hotels and other businesses in Cyprus that collaborated with the Group. Bookings made through FTI are being cancelled, with efforts to cover part of the trips still underway. The impact on the tourism industry in Cyprus is significant due to various challenges the industry is facing, such as the war in Israel, economic recession in the UK, upcoming elections in the UK, the European Championship, and the Olympic Games.

Irrigation water reduced by 33% due to drought

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Irrigation water reduced by 33% due to drought

The Water Development Department has reduced irrigation water by 33% compared to last year due to drought and poor water conditions. The remaining water is allocated for irrigation, with the drinking water sector fully satisfied at 100%. Farmers were informed in advance about the reduced quantities and must plan accordingly. Dam capacity is at 42.1%, and if conditions remain the same, there may be a problem with water supply next summer. The Department is promoting efficient water use in agriculture with practical tips for irrigation during drought conditions.

What is the solution for low-cost housing?

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What is the solution for low-cost housing?

The cost of buying houses or apartments in Cyprus has become a big issue, especially in recent years. The level of residential rents has increased by around 20% in the last 2 years. Various proposals have been made to alleviate the problem, including increasing area ratio, abolishing minimum areas, and creating low-cost units. Immediate measures are needed to address the housing crisis, such as tax reductions for landlords who rent out apartments and implementing summary eviction procedures. Colleges and universities could also play a role in providing housing for students. The Housing Finance Corporation and Land Development Agency may not be able to effectively address the issue.

Cyprus implemented GRECO recommendations for judges, not MPs or prosecutors

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Cyprus implemented GRECO recommendations for judges, not MPs or prosecutors

Cyprus has fully implemented 75% of the recommendations regarding prosecutors, but only 25% of the recommendations regarding MPs.

Latest Amendments In The Bulgarian Corporate Income Tax Act For Multinational And Large National Ent

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Latest Amendments In The Bulgarian Corporate Income Tax Act For Multinational And Large National Ent

Eurofast is a regional business advisory organization with local advisers in over 21 cities in South East Europe, Middle East & the Baltics. They serve as a one-stop shop for investors and companies seeking professional services.

Fact: The Bulgarian Corporate Income Tax Act has been amended to introduce an additional tax for multinational and large national enterprise groups, effective from January 1, 2024.

Disciplinary action begins against CyBC director general for mismanagement

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Disciplinary action begins against CyBC director general for mismanagement

Disciplinary proceedings have begun at state broadcaster CyBC against director general Thanasis Tsokos for allegations of abuse of power and financial mismanagement. The board of CyBC is meeting to appoint a Deputy Director General to ensure normal operation. A decision for a disciplinary investigation into Tsokos was made by the cabinet on April 30, 2024, with Emmanuella Lambrianidou appointed as the investigating officer.