Cyprus mulls zero tax on smaller bank deposits March 19, 2013 - 14:20 AMT PanARMENIAN.Net - A new proposal from the Cyprus finance ministry says bank depositors with savings of 20,000 euros or less would be exempt from a levy, BBC News reported. Amounts between 20,000 and 100,000 euros would face a 6.75% tax. The levy on savings above 100,000 would remain at 9.9%. The levy has enraged Cypriots. The earlier plan was to tax all savings under 100,000 euros at 6.75%. The controversial tax is a condition for Cyprus to get a 10bn-euro loan from the EU and IMF, to rescue its banks. Partner news  Top stories IFC invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining. Armenian Prime Minister addressed a letter to Public Services Regulatory Commission over the reconsideration of gas prices. Armenia’s Public Services Regulatory Commission plans to reconsider electricity generation and distribution prices. Edmon Manukyan been addressed by the residents of Armavir and Aragatsotn provinces whose crops have been damaged over a strong hail.   Partner news |  Latest news Iran executes two spies convicted of working for Israel, U.S.  Iran has in the past said it had successfully detected and dismantled spy networks operating inside the country.UN chief: conference Syrian settlement to take place “very soon” The conference would be a follow-up to last year’s international meeting in Geneva that drafted a peace roadmap for Syria.France in talks with U.S., Israel to buy intelligence-gathering drones France's existing hardware is outdated and its military intervention in Mali this year has exposed its shortage of surveillance drones.North Korea launches another short-range missile - report The South Korean Defense Ministry said it had increased its monitoring of North Korea and was on standby to deal with any further developments. |
