Cyprus: 37.5 % Tax on Assets

Politics ♦ Published: March 30, 2013; 10:45 ♦ (Vindobona)

The compulsory levy on bank assets exeeding € 100,000 has now been fixed. Assets above the amount will be taxed with 37.5 %.

Cyprus: 37.5 % Tax on Assets / Picture: © Bank of Cyprus

The decision on the taxation rate of assets deposited at the bankrupt-gone Bank of Cyprus was reported by the public TV broadcast RIK on Friday evening relying on the Central Bank’s (CBC) announcements. The Cyprian newspaper Kathimerini published the corresponding documents on its online edition. The mandatory levy applies to costumers with bank assets above € 100,000 at the Bank of…