Nicosia race club says risks bankruptcy if municipal levy raised

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Nicosia race club says risks bankruptcy if...
 © CyprusMail 2018
The Nicosia (horse) Race Club warned on Monday it risked bankruptcy if parliament agreed to raise a municipal levy on betting by half a percentage point, which is the demand of the hosting local authority, Ayios Dhometios.

The matter was discussed before the House interior committee whose members heard that raising the levy to 1.5 per cent would fetch the municipality an additional €200,000 annually.

A Race Club representative told MPs that for the industry to continue to operate, securing thus thousands of jobs, it was necessary not only to refrain from raising the municipal levy...


Nicosia race club says risks bankruptcy if municipal levy raised


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