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...


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


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