Economist proposes reducing deposit tax to counter likely ECB rate hike

Click For Larger Image & Read More
Economist proposes reducing deposit tax to...
 © BusinessMail 2020
By Stelios Orphanides

The government may have to consider reducing the currently 30 per cent tax rate on income from deposits in order to help banks cope with a likely reversing of the European Central Bank’s (ECB) accommodating monetary policy, an economist said.

His proposal is likely to steer controversy as a colleague of his expressed reservations both with respect to its effects and effectiveness.

“An interest rate hike by the European Central Bank (ECB) could be a negative development for the Cypriot economy but banks could then...


Read all latest: Cyprus Coronavirus News Updates - Live

This article was automatically added to our system 5-7-2017

Economist proposes reducing deposit tax to counter likely ECB rate hike


The contents of this article including any associated images are © BusinessMail 2020
Views & opinions expressed in this article are those of the author and/or BusinessMail .

  • Click Here
Advertise Here

  Trending Cyprus News

  • Click Here
Advertise Here

Article Tags: economist, proposes, reducing, deposit, counter, likely,