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Cyprus News Agency: News in English, 13-07-18
CONTENTS
[01] Cabinet decides tax pardoning for capital repatriation
[01] Cabinet decides tax pardoning for capital repatriation
Government Spokesman Christos Stylianides announced tax pardoning for
those who will bring back capital by the 31st of December 2013, on the
basis of specific criteria.
Speaking after the meeting of the Council of Ministers, Stylianides said
that the government, taking into consideration the financial crisis,
decided that, in order to attract investments and strengthen liquidity,
it would offer tax pardoning to those who will repatriate capital by
the 31st of December 2013.
He pointed out, however, that the government was very sensitive when
it came to tax evasion and would thus provide pardoning on specific
grounds, namely that the capital is used for immediate and measurable
investments or to pay off debts to banks or the state, and the money
to be pardoned would be deposited in banks for five years, and would
be used to purchase state bonds.
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