Talks about changing Cyprus taxes are stopped. The Akel party is the problem. They want a tax on rich people’s things. The money people have is called wealth. The Ministry of Finance does not agree. This makes it hard to finish the tax plan this year. A vote will happen next Monday.
Akel has two new tax ideas. First, a tax on expensive houses. It is 1% each year. Houses over €3 million will pay. This tax stopped in 2017. Second, companies will pay a yearly tax. Companies with €1 million to €2 million in assets will pay. This gets money from big companies.
But the Ministry of Finance said no. They think the ideas are not good. They worry about paying tax two times. A new house tax may be like city taxes. The ministry also has questions. They do not know the tax amounts. They do not know why €3 million is the limit.
The government is against these ideas. Akel wants to vote on its ideas. Akel is serious about its plan. The government and Akel have different ideas. They think differently about taxing wealth. Monday’s vote will be important for Cyprus taxes.