Cyprus, Greece and Malta promote common interests

Cyprus, Greece and Malta will intensify their cooperation to promote common interests both within and outside the EU, says Communications and Works Minister Tasos Mitsopoulos.

Unpaid taxes and fines to the state exceed €150 mln

A recent parliamentary meeting revealed the inability of the state to collect unpaid fines and taxes exceeding €150 mln, tax evasion, debt ridden municipalities, overpriced medicines and the fact that the Auditor’s Office is understaffed.

Cyprus deficit falls to 3.63%

Cyprus' deficit fell by €147.81 million at the end of November, down to 3.63% of Gross Domestic Product (GDP), from 4.16% in the corresponding period of 2012, based on recent data released by the Ministry of Finance.

Single tax authority to reclaim millions owed in tax

A special team will try to claw back millions in tax not paid to the government by big debtors, says Finance Minister Georgiades.

Cyprus pledges to improve information sharing with Russia

Cyprus is in the process of improving cooperation and information sharing with Russia in order to meet the new standards, says Cyprus Ambassador in Moscow.

2014 Cyprus state budget sees further cutbacks

The 2014 state budget is focused on the reduction of expenditures, Finance Minister Harris Georgiades told parliament recently, adding that cuts will reach around 10%.

Cyprus clear of Russian blacklist

Russia will not be placing Cyprus on a blacklist of non-cooperative tax havens after the two governments cleared up the matter, says the chief of the Cyprus Investment Promotion Agency (CIPA).

Eurogroup approves third bailout tranche for Cyprus

The Eurogroup has approved theroadmap for the privatisation of semi government organisations (SGOs), a requirement to release the next tranche of the island’s assistance programme.

‘The time for fun and games is over’

The banking sector may have been saved from the brink, with the taxpayer footing the bill, but the trickiest part of overhauling the economy and reining the national debt still lies ahead.

Evaluating the risks of natural gas

MIT researchers have warned Cyprus to think carefully before investing a substantial amount of money in a rather unpredictable resource like natural gas, noting the “large amount of uncertainty” surrounding the rapidly changing global gas market.