Cyprus to apply staggered levy on deposits, tax deposit interest - source
BRUSSELS, March 16
BRUSSELS, March 16 (Reuters) - International lenders and Cyprus have agreed a one-off levy of 9.9 percent to apply to deposits in Cypriot banks above 100,000 euros and of 6.7 percent for deposits below 100,000 euros, a senior euro zone source said early on Saturday.
They had also agreed to tax the interest on deposits in Cypriot banks, the source involved in the negotiations added.
The tax measures are to boost Cypriot revenues to diminish the size of the necessary emergency borrowing from the euro zone and keep public debt at a level that will be possible to service.
- Atheists face death in 13 countries, global discrimination: study
- South Africa admits mistake over 'schizophrenic' Mandela signer |
- Missouri executes man for killing good Samaritan motorist in 1994
- Thai military chief rebuffs meeting request in blow to protesters |
- Apple scores legal victory over Samsung in South Korea