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Cyprus News Agency: News in English, 13-05-22
CONTENTS
[01] Golf project in Pafos sold to Hong Kong Group
[02] European Council to discuss tax evasion and energy
[01] Golf project in Pafos sold to Hong Kong Group
The Venus Rock Golf Resort project in the district area of Pafos has
been sold to Chinese investors.
The project, which will include two golf courses, the 5 Star Nikki Beach
Hotel, two community sports centres, a commercial and leisure component
as well as luxury private homes, was sold on the 17th of May to a Hong
Kong based international conglomerate and real estate investment group.
[02] European Council to discuss tax evasion and energy
Tax evasion and energy are the two main items on the agenda of the
European Council which takes place on Wednesday, in Brussels. European
leaders are also expected to commit to an automatic exchange of data on
citizens' income sources.
They will ask the Commission to start negotiations with third countries
in order to further expand cooperation on tax matters. However, the
implementation of the above decisions will take time since there are
still disagreements over lifting banking secrecy. Certain member states,
such as Austria and Luxembourg, feel that if that becomes the case then
it should be accepted on an international level.
Tax evasion causes losses of income for member states of the order of
€1 trillion per year which translates to €2,000 by household, EU
Commission President José Manuel Barroso has said.
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