Audit chief suggests casino passports were granted on basis of false data
Auditor-general Odysseas Michaelides suggested that 18 citizenships granted to people linked to the company that won the casino resort concession in 2019 had been based...
finance ministry
Ministries urged to limit spending to bare necessities (Updated)
The finance ministry has issued a circular to all ministries asking them to limit spending to the bare necessities after the rejection of the state...
Finance ministry warns against any more changes to foreclosure processes
Any extension of the freezing of foreclosures until the end of the year or beyond, would bring potential negative effects and disproportionate costs to both...
Russia initiates scrapping of taxation deal with Cyprus (updated)
By Elias Hazou and Philippe Orphanides Russia’s finance ministry said Monday it would initiate a process to scrap an agreement with Cyprus aimed at avoiding...
Coronavirus: FinMin asks other ministries to make cutbacks
The finance ministry has asked other ministries to cut non-essential operating and developments expenditure, as the government seeks to dampen the fiscal effects of the...
State preparing to counter risk of public service pay cuts being reinstated, Petrides says
The treasury is preparing reaction scenarios should the Supreme Court uphold the ruling of the Administrative Court on the unconstitutionality of cuts in salaries and...
Cyprus and Egypt renew 1993 deal for elimination of double taxation
Cyprus and Egypt have signed a new agreement for the elimination of double taxation with respect to taxes on income and the prevention of fiscal...
Proposal floated to abolish annual company levy, state says no
The House commerce committee on Tuesday proposed abolishing the €350 annual levy on registered companies but the finance ministry said the tax would stay as...
Finance ministry seeks buildings to purchase for government needs
The finance ministry is calling for expressions of interest from legal or natural persons for the purchase of buildings to cover the housing needs of...
Cyprus mulls hiking corporate tax rate to 15 per cent
Finance ministry sources on Tuesday confirmed reports that the government is considering raising the corporate tax rate from 12.5 per cent currently to 15 per...
Draft bill on blockchain to be ready by end of 2019
A draft bill to regulate blockchain technology in Cyprus is expected to be ready before the end of the year, as part of the National...
Cyprus aims to maintain high surpluses and put debt on downward path
Cyprus aims at maintaining high primary surpluses and use windfall gains to reduce its high public debt or boost its cash buffers, thereby placing its...
Cyprus to tap markets with 30-year bond
Cyprus will be tapping the markets, possibly on Wednesday, with 30-year and five-year bonds. The bonds could be used for the early repayment of a...
Cyprus prepares to tap international markets after early repayments
Cyprus prepares to tap the markets with a new euro-denominated bond issue, the finance ministry has said. In a statement the ministry said “the Republic...
Disy, Diko, ministers discuss creating second Estia scheme
Disy, Diko, the finance minister and the labour minister discussed creating a second ESTIA housing scheme on Tuesday that would benefit people who meet their...
Expected ECB rate hike, strong investor interest increased government’s bond appetite
By Stelios Orphanides The decision to go for a €1.5bn bond issue instead of the initially planned €1bn was dictated by a combination of factors,...
Pieri says ministerial decree set Dionysiou’s €25k ‘baksheesh’
Former Co-op board member Lambros Pieri told the committee investigating the causes of the state-owned bank’s demise that an annual payment to a finance...
Ministry official says past sins brought down the Co-op (Updated)
A finance ministry official who served on the Co-op’s board of directors said on Wednesday the lender went down mainly because of problems it...
‘They didn’t want us to audit them’, Michaelides tells probe of ‘fierce resistance’
By Stelios Orphanides Auditor-general Odysseas Michaelides said on Thursday the finance ministry had done “whatever it could” to prevent an audit of the failed Co-op and...
Government debt repayments seen at €713m in 2018
By Stelios Orphanides The government faces €713m in debt maturities this year, including the second payment of €312.5m to the Russian Federation against a €2.5bn...