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Budget 2024 Capital Gains taxation: Corporate tax for foreign companies slashed to 35%, charities, cruise operations taxation revised

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Budget 2024 Capital Gains taxation: Corporate tax for foreign companies slashed to 35%, charities, cruise operations taxation revised

Simplifying the tax regime for corporate industries, Union Finance Nirmala Sitharaman on Tuesday, proposed new tax structures for charities, foreign shipping companies, rationalisation of capital gains in her 2024 Budget speech. She also reduced corporate tax on foreign companies from 40 to 35%. Ms. Sitharaman’s speech lasted just shy of ninety minutes Also read: Budget … Read more

Fairness, Transparency, and Enforcement: Principles for Taxing U.S. Multinational Corporations In 2025

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Fairness, Transparency, and Enforcement: Principles for Taxing U.S. Multinational Corporations In 2025

Click here to download Briefing Memo on Foreign-Derived Intangible Income (FDII) The 2017 tax reform massively reshaped how U.S. multinationals are taxed on their foreign income, including through the application of a global minimum tax that grants corporations a substantial discount on their foreign profits. This discount gave big multinationals new incentives to stash their … Read more

UK D-Day veteran says on 80th anniversary: , ‘We were making history’

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UK D-Day veteran says on 80th anniversary: , ‘We were making history’

Fred Ayton, a Royal Navy veteran, was an 18-year-old able seaman torpedoman on HMS Sweetbriar during the D-Day invasion on June 6, 1944. He was told he was “making history” by taking part in the biggest ever seabourne invasion.

Cyprus has consistently alienated friendly countries

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Cyprus has consistently alienated friendly countries

The fact described in the text is that every time Cyprus faced isolated attempts for recognition of the illegal entity in the occupied part of Cyprus, the country always turned to the United States government for help, and the US always responded positively to avert the danger.

‘, Light on the horizon for Vasiliko’

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‘, Light on the horizon for Vasiliko’

Energy Minister George Papanastasiou stated that there is progress in the construction of the liquefied natural gas (LNG) terminal in Vasiliko, with consultations ongoing between Cyprus’ natural gas infrastructure company and the Chinese state-owned company CPP Metron. The terminal is crucial for importing LNG to reduce electricity costs in the Republic of Cyprus. President Nikos Christodoulides denied discussions of a “velvet divorce” with CPP over the terminal, emphasizing that efforts are continuing.

No , ‘velvet divorce’ over Vasiliko LNG terminal

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No , ‘velvet divorce’ over Vasiliko LNG terminal

There are ongoing efforts to find a solution for the Vasiliko liquefied natural gas (LNG) terminal project, with no discussions of a “velvet divorce” with Chinese state-owned company CPP.

Sailboat sinks off Larnaca coast, five rescued unharmed

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Sailboat sinks off Larnaca coast, five rescued unharmed

Five people were rescued after their sailboat sunk off the coast of Larnaca, 35 nautical miles from shore. The joint rescue coordination centre (JRCC) received a notification from a tanker boat in the area and dispatched a helicopter to rescue the individuals. All five were successfully saved and are in good health.

Daleela embarks on first voyage for 2024

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Daleela embarks on first voyage for 2024

The Daleela passenger and car ferry has resumed its sailings from Limassol to Piraeus for the third season, with increased ticket sales compared to last year. The ferry will operate exclusively from Limassol, with departures on Wednesdays and Sundays from Limassol and Tuesdays and Fridays from Piraeus. Ticket prices have slightly increased from last year, with the ferry receiving a €5.5 million annual subsidy. The ferry link between Cyprus and Greece was reinstated in 2022 after 20 years, supported by a state subsidy approved by the European Commission.

Gaza aid deliveries drop by two-thirds since Israel’s move into Rafah, UN says

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Gaza aid deliveries drop by two-thirds since Israel’s move into Rafah, UN says

The United Nations has reported a significant drop in humanitarian aid entering Gaza since Israel began its military operation in the region. The daily average of aid trucks reaching Gaza dropped by 67%, with only 58 trucks reaching the area from May 7 to Tuesday. Israel has stated that it is committed to facilitating the entry of humanitarian aid into Gaza despite ongoing conflict with Hamas.

Larnaca port and marina in flux as state replaces Kition

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Larnaca port and marina in flux as state replaces Kition

Larnaca’s port and marina are now under state control following the collapse of a major development project. The Port Authority has taken over operations, deploying additional staff and private machinery services. The future management of the marina is uncertain, with discussions on potentially separating the port and marina projects gaining traction. The fate of Kition Ocean Holdings’ employees remains unclear, with trade unions advocating for their rights. The government is re-evaluating the initial development plan and considering future steps for the projects.