Monthly Archives: September 2012

Archives September 30, 2012 posted by

VAT office goes after charity shops

 

THE cash-strapped government has begun to chase down charity shops who fail to collect VAT, and will not hesitate to penalise those who have not complied.

The move has left at least one charity, the Paphiakos animal shelter – which runs two shops in Paphos to augment its fund raising – facing a late registration penalty, late submission of tax returns, arrears in payment of VAT on sales that should have been declared, interest and a penalty of 10 per cent on tax due. The fines could run into thousands.

Unlike their UK counterparts, charity shops in Cyprus, which mainly deal in second-hand goods, are liable to collect 17 per cent VAT, on most items if their turnover exceeds €15,600 a year.

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Archives September 30, 2012 posted by

Tales from the Coffeeshop: Ethnarch Jr sulks as Fuhrer gets his wish

 

ETHNARCH Junior did not have much joy in persuading his fellow-freedom fighters at DIKO to back the presidential candidacy of Yiorkos Lillikas last Thursday. Although the meeting dragged on to midnight, the outcome had been a foregone conclusion, Junior’s oratory failing to sway the central committee’s members.

Eighty per cent of the DIKO freedom fighters who gathered at the Hilton Hotel in their light-blue, short-sleeved shirts, parking their cars in spaces for the disabled, backed their leader’s proposal to back the DISY Fuhrer, Nice Nik. They were not in the slightest bit bothered that Nik’s political CV did not meet with the approval of the idealistic Junior.

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Archives September 30, 2012 posted by

Our View: Independence Day, an anniversary of failure

 

 

TOMORROW Cyprus will mark the 52nd anniversary of the Republic with a military parade at which President Christofias will take the salute. We doubt anybody will be celebrating the occasion as the Cyprus economic miracle we liked to boast about has turned into a full-blown economic disaster at the centre of which are a bankrupt state and the island’s two biggest banks, in need of several billion euros of capital.

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Archives September 30, 2012 posted by

Released colonial files highlight coexistence concerns

 

IN THE years before Cyprus gained its independence, Great Britain was concerned about the prospects for peaceful coexistence between the Greek Cypriots and Turkish Cypriots, according to new files released Friday by the British Foreign Office.

A couple of years before Cyprus gained its independence, Conservative Prime Minister Harold Macmillan described the Cyprus problem as a primarily international problem and not a colonial one.

Correspondence in early 1958 between Macmillan and the Cyprus governor Sir Hugh Foot shows the prime minister was also concerned about the financial cost of keeping a large number of troops on the island.

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Archives September 30, 2012 posted by

Date finally set for meeting on economy

 

A MEETING between the government and political parties on the Cyprus economy will take place next Friday afternoon, it was announced yesterday. 

According to an official press release, President Demetris Christofias will hold a meeting with parliamentary parties’ leaders which will focus on the economy and the government’s counter-proposals to the troika’s package of austerity measures put forward as part of the island’s bailout programme.

The Cabinet is also due to meet tomorrow afternoon to discuss the package and the on-going efforts to secure a loan from Russia.

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Archives September 30, 2012 posted by

Alpha Bank seeking to repossess British homes in Cyprus

 

OVER a thousand Britons who bought holiday homes in Cyprus face repossession as one of Greece’s major lenders, Alpha Bank, has launched legal procedures against them, The Times reported yesterday.

The Times said that hundreds of Britons stopped paying their mortgage as a direct result of an ongoing debt crisis and the changes this brought upon their mortgage terms.

The borrowers bought property in Cyprus in 2007 and 2008 on Swiss francs denominated mortgages, an advantageous agreement at the time because Swiss franc loans offered a much better interest rate, the Times said.

Instead of an 8 per cent interest rate available in the Cyprus pound (prior to the euro’s introduction) or sterling, borrowers could get half of that. 

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Archives September 30, 2012 posted by

An autumn spring clean

 

THOUSANDS of people yesterday filled up plastic bin bags with rubbish as part of ‘Let’s Do it Cyprus’ clean-up campaign.

The main goal was to get the country clean in one day, as part of a global campaign spanning about 100 countries that Cyprus joined for the first time yesterday.

Among participants were the Green party whose deputy, George Perdikis, could be near the old Nicosia general hospital cleaning up the banks of the seasonal river Pedieos. “It’s a gorgeous corner of the capital but it’s full or rubbish which shows this country needs a culture to nourish the environment… and there’s a lot for us to do,” Perdikis said. 

The Interior Minister Eleni Mavrou and other officials also took part in the clean up.

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Archives September 30, 2012 posted by

Nicosia bus strike

 

THERE will be no bus service in Nicosia on Tuesday because staff have not been paid for September, unions SEK and PEO said yesterday.

Workers said their basic and non-negotiable rights have been violated, leaving them no choice but to declare a strike, the unions said.

The unions apologised for troubles caused but said they were not responsible. 

Bus companies comprising the public bus network are running losses despite the fact the public transport system was set up only in 2010. 

 

 

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Archives September 30, 2012 posted by

Air freshener haul

A 36-YEAR-OLD man was arrested Friday afternoon in Paphos after authorities found in his home 108 air fresheners that may have been imported illegally, police said.

The police searched the man’s home on the strength of a court warrant and confiscated the air fresheners.

A police spokesperson said they were expecting confirmation from the state lab on whether the objects contain illegal substances.

They arrested him in relation to illegally importing a controlled substance, with intention to sell.

 

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