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Cyprus: Small Investors To Be Excluded From Tax

Published: March 19, 2013; 10:43 · (Vindobona)

After protests among Cyprus‘ citizens arised and harsh criticism was expressed, the government now intends to exclude small savers from the compulsary tax and grant them a relief.

The initial proposal by the Eurogroup was rejected by the Cyprian government. Instead of charging all creditors with assets of up to € 100,000 on their bank accounts with a tax of 6.75 %, depositors with savings below € 20,000 will be given an allowance. Creditors with assets from € 20,000 to € 100,000 will still be charged with a levy of 6.75 % and assets above € 100,000…

This article includes a total of 300 words.

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