Latest Headlines

All reports tagged with: "parliament"

Hourican disappointed by shenanigans

John Hourican, the outgoing CEO of the Bank of Cyprus said he was disappointed by the ‘shenanigans’ of lawmakers that delayed and diluted laws aimed at helping banks collect on a huge number of non-performing loans.

Hidden mortgage bill passed

At today’s plenary session of the Cyprus parliament MPs approved the hidden mortgage bill designed to resolve the issue of ‘trapped’ property buyers who are unable to obtain Title Deeds due to their developer’s debts.

Insolvency framework bills passed

After the usual shenanigans we’ve come to expect from opposition parties and endless debates, the five bills comprising the insolvency framework were passed by a plenary session of parliament earlier today.

Rent reduction law judged unconstitutional

President Anastasiades has asked parliament is to reconsider a law it agreed two weeks ago that imposed compulsory rent reductions of up to 20 per cent for commercial and residential premises.

Property tax for all

A bill proposing a revised property taxation system under which every home owner will pay according to the 1980 value of their property will be put before a plenary session of parliament later this week.

MPs reject property tax bill

MPs have rejected a government request to discuss and vote on the bill designed to increase Immovable Property Tax as part of the island’s bailout deal saying they needed more time to consider its ramifications.

Almost one in four properties are co-owned

Twenty four percent of properties in Cyprus, about 274,000, are co-owned of which the majority are located in Famagusta according to information received by MP Ionas Nicolaou of the DISY party.

Reduced VAT for first-time home buyers

Discussions on reducing the VAT paid by first-time home buyers are continuing and they may form part of the Cyprus government’s second package of austerity measures designed to shore up the Island’s economy.

Cyprus planning amnesty bills delayed

Voting by Cyprus MPs on three planning amnesty bills has been postponed for two weeks at the request of Democratic Party member Andreas Angelides.

Title Deeds legislation edges closer

The long awaited and often criticised bills designed to tackle the Title Deed fiasco and bring relief to the many thousands of buyers who have been waiting for many years could be implemented in the next couple of months.

Back to top