Moody’s says new capital gains tax exemptions to aid banks

19-7-2018 Business Mail BusinessMail Red Hot +

Moody’s says new capital gains tax exemptions...

By Stelios Orphanides

Moody’s Investors Service said that the decision of the Cypriot parliament to also exempt the sale of real estate from the capital gains tax when the generated cash goes to the repayment of loans, is a credit positive for banks.

The exemption from the 20 per cent capital gains tax which the parliament also extended to property sold or relinquished to credit acquiring companies, was previously restricted to debt-to-asset swaps after its introduction three years ago.

“The benefit’s extension to other sales categories is credit positive for Cypriot credit acquiring...

Read all latest: Cyprus Coronavirus News Updates - Live

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

Moody’s says new capital gains tax exemptions to aid banks

Trending Cyprus News

Early Sighting Of Pine Processionary Caterpillars -...
Whilst it is usually noted that Pine Processionary Caterpillars appear in Cyprus in March and early April, they have appeared in the past two...
Coldest day in Cyprus this winter
Cyprus is in for its coldest day of the winter on Wednesday, as maximum temperatures are to drop well...
Eurowings is hiring! Flights to Cyprus, other ‘core’...
Eurowings is hiring! Eurowings announced on Monday that it is preparing for its restart in summer 2021. In order to be...
Greens concerned over high rises on Paphos coast
An existing Paphos hotel on the seafront of the town is earmarked for demolition with three nine-storey buildings due to take its place, the local...
Search continues for missing swimmer
Search and rescue crews on Monday morning resumed the search for a 70-year-old woman who went missing when she went swimming in the Phinikoudes...
COVID19: Lifting of lockdown measures will be gradual
Any lifting of lockdown measures in place until the end of January should be made gradually with...
What the President said or did he ever say it
Cyprus is not a bastion of investigative journalism as nature of the beast doesn’t allow for it roam in...
COVID19: Cyprus changes vaccine rollout as over 90s miss out
Cyprus was forced to revise the second stage of its vaccination rollout with a smaller number of...
Latest Cyprus Coronavirus News Updates...
Read the latest Cyprus Coronavirus News from all news sources together in one place - updated 24/7...