Moody’s says tax relief for problem loans is credit positive for banks

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Moody’s says tax relief for problem loans is...
 © In-Cyprus 2018
A decision by parliament to extend the government’s waiver of the 20% capital- gains tax to all properties sold when proceeds are used to repay problem loans and to properties sold or relinquished to credit-acquiring companies to settle existing debt is a credit positive for Cyprus banks, Moody’s said on Friday.

Until now, this tax break was applicable only to properties sold in debt-for-asset swaps with banks. The benefit’s extension to other sales categories is credit positive for Cypriot credit acquiring companies because it will increase the recoverable...


This article was automatically added to our system 19-7-2018

Moody’s says tax relief for problem loans is credit positive for banks


The contents of this article including any associated images are © In-Cyprus 2018
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Article Tags: moody, relief, problem, loans, credit, positive, banks,

 

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