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  • Reduce non-performing loans by 40% in 2018

    Reduce non-performing loans by 40% in 2018

    The Finance Ministry's 'Stability Programme 2018 – 2021' outlines a three-pronged strategy to address the high levels of non-performing loans (NPLs) in the banking sector that pose a risk to the economy...
  • Bill to exempt old mortgages from foreclosure

    Bill to exempt old mortgages from foreclosure

    Officials from the government and the Cyprus Central Bank have warned that a bill seeking to exempt pre-2014 mortgages from the foreclosure laws would wreak havoc on banks' balance sheets...
  • Crocodile park back in the news

    Crocodile park back in the news

    The proposed crocodile park at Achna was back in the news this week as the MPs in the House Environment Committee discussed health risks to humans and environmental issues...
  • Mixed views on crocodile park

    Mixed views on crocodile park

    The 500 people who attended a meeting last night to discuss the proposed crocodile park near the Achna reservoir had mixed views on the proposal put forward by the Israeli firm TSA Crocopark...
  • Tax shock for British residents in Cyprus

    Tax shock for British residents in Cyprus

    The revised UK and Cyprus Double Taxation Convention, which was signed on 22 March, could result in higher taxes for some retired British residents in Cyprus whose pensions are paid by the UK Government...
  • Taxing Airbnb property rental income

    Taxing Airbnb property rental income

    The practice of renting properties in Cyprus through Airbnb and other websites has come under the scrutiny of the tax authorities who are looking to address the problem of tax evasion on rental income received...
  • Crocodile park gets go-ahead

    Crocodile park gets go-ahead

    A crocodile park earlier rejected by the Psematismenos and Athienou communities has been given the green light by the Achna Community Council in Famagusta by a majority of council members...
  • VAT break for young couples buying land for first home

    VAT break for young couples buying land for first home

    Young couples buying land for their first home in Cyprus may only pay 5 per cent VAT on its purchase price rather than 19 per cent under a draft bill submitted to parliament by the government...
  • Non-performing loans (NPLs) initiative

    Non-performing loans (NPLs) initiative

    Following comments from the troika on the extremely high levels of non-performing loans (NPLs) the Cyprus government is preparing proposals to improve the insolvency and foreclosure laws...

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