All reports tagged with: "finance ministry"
New regulations allowing the banks to rent and maintain repossessed properties on their books and allow them to complete unfinished properties are being discussed by the house finance committee.
I am grateful to Mr. Christofi at the Tax Department in Nicosia for the following information concerning the payment of Immovable Property Tax by those who have yet to receive their Title Deeds.
The Finance Ministry has issued a decree scrapping the daily cash withdrawal limits from bank accounts one year after Cyprus imposed capital controls to prevent economic meltdown.
Before the capital controls involving money transfers abroad are scrapped, enabling those who have sold their homes to repatriate the proceeds more easily, domestic controls will be fully eased first.
Cyprus, which applied for an EU bailout last week, acquired €1.79 billion worth of shares in the island’s second-largest lender, in a previously announced move to help it meet minimum capital levels depleted by heavy exposure to debt-crippled Greece.