Bailout ready

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Bailout ready


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Old 16th March 2013, 06:29 AM
Vegaanders
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Default Bailout ready

According to Swedish news is the bailout agreement ready.

The sum is 10 billion Euro.

Cyprus agree to a one time tax on all money people have on bank accounts and higher company tax

The one time tax will be 9,9 percent for amounts over 100000 euro and 6,75 if you have under that amount in the bank. This will give Cyprus state 5,8 billion. It will also be tax on the interest you get from the bank

Anders

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Old 16th March 2013, 06:45 AM
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Cyprus agree to a one time tax on all money people have on bank accounts and higher company tax

The one time tax will be 9,9 percent for amounts over 100000 euro and 6,75 if you have under that amount in the bank. This will give Cyprus state 5,8 billion. It will also be tax on the interest you get from the bank

Anders
Thank goodness I haven't yet opened a bank account in Cyprus. At least Dick Turpin wore a mask. This is just daylight robbery. A tax on just having money in the bank? Outrageous!

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Old 16th March 2013, 06:53 AM
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Great I was tempted to take our money out of the savings account when the banks were said to be in trouble but I was persuaded that it was safe. Now the flippin government is going to rob us

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Old 16th March 2013, 06:54 AM
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Thank goodness I haven't yet opened a bank account in Cyprus. At least Dick Turpin wore a mask. This is just daylight robbery. A tax on just having money in the bank? Outrageous!
It must be better then loosing all money when the bank go bankrupt. Perhaps it would be better ti raise tax on expat pensions to 25% like it is in many other countries...., or?

Anders

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Old 16th March 2013, 06:57 AM
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Great I was tempted to take our money out of the savings account when the banks were said to be in trouble but I was persuaded that it was safe. Now the flippin government is going to rob us
It's to late now, Cyprus has promised to block electronic bank transfers until banks open on Monday and the law is in force.

Anders

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Old 16th March 2013, 06:58 AM
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It must be better then loosing all money when the bank go bankrupt. Perhaps it would be better ti raise tax on expat pensions to 25% like it is in many other countries...., or?

Anders
For heavens sake Anders, don't give them any more stupid ideas
I would much rather the one off robbing of my savings account than that the government takes chunks out of peoples pensions which in many cases they can only just manage to survive on as it is. There are many pensioners who have only their basic state pensions and to take any of that off them would put them in the poverty trap.
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Old 16th March 2013, 07:03 AM
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For heavens sake Anders, don't give them any more stupid ideas
I would much rather the one off robbing of my savings account than that the government takes chunks out of peoples pensions which in many cases they can only just manage to survive on as it is. There are many pensioners who have only their basic state pensions and to take any of that off them would put them in the poverty trap.
Thats what I mean. It must be better to loose 6,75 % one time then pay high tax forever. And you UK seniors are very favored. I will have to pay 25% on my pension. 20% in Sweden and 5% in Cyprus.

Btw the new corporate tax is now 12,5%

Anders

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Old 16th March 2013, 07:07 AM
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It must be better then loosing all money when the bank go bankrupt. Perhaps it would be better ti raise tax on expat pensions to 25% like it is in many other countries...., or?

Anders
Income tax I can understand.

Value Added Tax or a levy on what you spend I can understand (so long as it targets luxury goods rather than food staples).

Tax on profits I understand.

But taking 10% of what money people have in the bank is not a tax, and is certainly not fair. If the bank took 10% of our savings, we would call it theft. If the Government do the same, they call it tax. Call it what you like - it is simply wrong.
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Old 16th March 2013, 07:11 AM
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Originally Posted by Veronica View Post
I would much rather the one off robbing of my savings account than that the government takes chunks out of peoples pensions which in many cases they can only just manage to survive on as it is. There are many pensioners who have only their basic state pensions and to take any of that off them would put them in the poverty trap.
But will it stop at a one time raid? The 10 Billion has to be repaid. How does the Cyprus Govt intend to service this debt?

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Old 16th March 2013, 07:12 AM
Vegaanders
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Originally Posted by David_&_Letitia View Post
Income tax I can understand.

Value Added Tax or a levy on what you spend I can understand (so long as it targets luxury goods rather than food staples).

Tax on profits I understand.

But taking 10% of what money people have in the bank is not a tax, and is certainly not fair. If the bank took 10% of our savings, we would call it theft. If the Government do the same, they call it tax. Call it what you like - it is simply wrong.
What surprise me is why they dont income tax from much lower start point. A tax free income up to 19500 euro for a single person or the double for a family is extreme and does not exist in any other country in Europe

Anders
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