Moody’s: Cyprus broadens capital-gains tax waiver, a credit positive for banks

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Moody’s: Cyprus broadens capital-gains tax...
 © CyprusDaily 2018
Rating agency Moody’s says in its weekly “Credit Outlook” that extension of the government’s waiver of the 20% capital- gains tax to all properties sold when proceeds are used to repay problem loans is a credit positive for the banks.

Last Tuesday, the Cypriot parliament extended 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, which are the only Cypriot entities allowed to buy problems loans from banks, to settle existing debt....


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Moody’s: Cyprus broadens capital-gains tax waiver, a credit positive for banks


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