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Property tax decreased by 2 times?

The government is willing to promote the adoption of the bill on tax reduction by 50% on a single property, the Stock Watch says. The minister of internal affairs of Cyprus, Socrat Hasikos, announced this bill earlier, but due to objections of the ‘troika’ the initiative was suspended.

The minister announced that the bill must be submitted next week to the Cabinet of Ministers. However, adoption of the law will be possible only with the consent of the European lenders.