CYPRUS: 2017 state budget approved by Cabinet

The government has drafted a state budget for 2017 that sees a 1.1% increase in revenues, and a 2.3% increase in spending, resulting in a fiscal balance of 0.6% of GDP, bigger than the 0.3% targeted for this year.

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Tax treaty signed with Jersey

On 11 July 2016, Cyprus signed a tax treaty with Jersey, a Crown dependency of the United Kingdom, which was published in the Official Cyprus Government Gazette on 5 August 2016.

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