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Financial Mirror (Cyprus) - - FRONT PAGE -

tax plan­ning in a way that could af­fect the in­her­i­tance plans of any­one UK domi­ciled, or with UK as­sets held with a Cyprus or UK trust. 3D Global’s Se­nior Con­sul­tant said that this will have an im­pact of 20-40% on life­time charge­able trans­fers, while in the case of po­ten­tially ex­empt trans­fers (PETs) this will be tax-free, as long as the donor lives for an­other seven years.

CAIR

cuts

fees:

Cyprus Air­ways told travel agents it will scrap their 7% com­mis­sion on short-haul tick­ets and re­place it with a ser­vice charge of CYP

10-12

that

will

be in­curred by the pub­lic. For Euro­pean flights the charge will be CYP 18-20 and for long­haul 35.

Cyta

Con­nect:

Cyta launched the Voda­fone Mo­bile Con­nect ser­vice of­fer­ing wire­less con­nec­tions based on the new 3G net­work to mark the 11th an­niver­sary of the in­tro­duc­tion of GSM ser­vices in Cyprus. The data card will cost CYP 119.

The CFA So­ci­ety has added its voice to the grow­ing num­ber of finance pro­fes­sion­als call­ing for a res­o­lu­tion of the tax sta­tus of in­vest­ment funds so that Cyprus can take ad­van­tage of this tril­lion dol­lar in­dus­try, said its Pres­i­dent Mar­ios Deme­tri­ades, who added that Cyprus has yet to es­tab­lish it­self as an in­vest­ment cen­tre but that other com­peti­tor coun­tries “will not wait for us.”

Tax re­forms:

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