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Cyprus considers zero tax on smaller bank deposits

Posted By admin On March 19, 2013 @ 11:25 am In Money Watch | Comments Disabled

BBC News [1]
March 19, 2013

The Cyprus finance ministry suggests savers holding less than 20,000 euros (£17,000) would be exempt from a bank levy which has caused much alarm.

The plan was changed following outrage that ordinary savers would be forced to pay a levy of 6.75%.

A governing party MP told the BBC that party colleagues would abstain in a vote on the plan on Tuesday afternoon.

The controversial tax is a condition for Cyprus to get a 10bn-euro loan from the EU and IMF, to rescue its banks.

Full article here [1]

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URLs in this post:

[1] BBC News: http://www.bbc.co.uk/news/world-europe-21842966

[2] Cyprus Banks Close Until Thursday to Prevent Bank Run: http://www.prisonplanet.com/cyprus-banks-close-until-thursday-to-prevent-bank-run.html

[3] Cyprus Bank Deposits Plunge By Most Ever During “Capital Controls” Month: http://www.prisonplanet.com/cyprus-bank-deposits-plunge-by-most-ever-during-capital-controls-month.html

[4] Time Is Running Out In Cyprus: http://www.prisonplanet.com/time-is-running-out-in-cyprus.html

[5] MoD flies emergency cash to Cyprus for British personnel: http://www.prisonplanet.com/mod-flies-emergency-cash-to-cyprus-for-british-personnel.html

[6] Cyprus bank bailout agreement is pure theft: 40% of private deposits to be looted from selected accounts: http://www.prisonplanet.com/cyprus-bank-bailout-agreement-is-pure-theft-40-of-private-deposits-to-be-looted-from-selected-accounts.html

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