Crisis: Cyprus, Communist AKEL drafts 'Robin Hood' proposal
For properties between 401 and 500 square meters, the fee would be 100 euros per square meter over and above the 400 square meters. AKEL proposes that the measure, if passed, be implemented as of July 1. Both proposals are currently being processed by the House Finance Committee.France's Hollande declares 1. 17m euro assets
Environment: 75 mln euros loan from EIB to Turkey
Saturday, 12 May 2012
(ANSAmed) - NICOSIA, MAY 11 - Ruling Communist party AKEL has drafted a legislative proposal which aims to set a so-called "luxury tax," a scaled tax on vehicles above 3000 cc. The aim - as Cyprus Mail reports - is to tax the rich to benefit the needy. Exempted are vehicles used for public transport, ambulances, self-propelled caravans, vehicles for the disabled, and those used to transport merchandise. It has also tabled a proposal for a special construction fee for houses and apartments over 300 square metres. The fee would be paid on applying for a building permit. For properties with an area between 301 and 400 square meters, the special fee per square meter over and above the 300 square meters would be 50 euros.
(ANSAmed) - ANKARA, MAY 10 - Development Bank of Turkey (DBT) signed 75 million euro loan agreement with European Investment Bank (EIB) for Development of Small and Big Enterprises (DBT Loan for Renewable Energy and Energy Productivity). DBT has been cooperating with EIB since 2002 and the new agreement has been signed to continue the cooperation. The loan - as Anatolia news agency reports - will be used in the areas of preventing climate change, renewable energy for greenhouse gas emission, energy productivity and productivity of energy in losses of electricity in distribution. (ANSAmed).
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