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Monthly Archives: July, 2014

News

Deal reached on Immovable Property Tax

Nigel Howarth -
A last minute deal has been reached by Cypriot MPs on the Immovable Property Tax for 2014 and a bill has been passed with 53 votes in favour and just one against according to reports.
News

Bank plans property sales via website

Nigel Howarth -
The Bank of Cyprus will launch a website in the next couple of weeks where all the property it owns and wishes to sell will be advertised with a minimum price according to reports.
News

Building permits down 24% in April

David Crowther -
The number of building permits issued in fell 24 per cent compared with the corresponding month of last year and their numbers have declined 14 per cent during the first four months of 2014.
News

Immovable Property Tax up in the air

Nigel Howarth -
Following the wrecking of the draft bill to change the Immovable Property Tax rates for 2014, the Inland Revenue Department has suggested that last year's law be extended for a further year.
News

New Immovable Property Tax lies

Nigel Howarth -
The changes brought about by the new Immovable Property Tax shifts the burden of taxation onto the owners of medium value properties to the benefit of large owners such as property developers.
Investment

Fitch upgrades Bank of Cyprus and Hellenic Bank

Editorial -
Ratings agency Fitch has upgraded the Bank of Cyprus and the Hellenic Bank but warned that the island's biggest lender still faces a high risk of capital erosion because of weakening asset quality and profitability.

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