Cyprus Debates Wealth Declaration Law, Citing Strictness in Europe
1 report, 1 independent
Updated Mon 00:00
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What happened
Lawmakers in Cyprus reviewed a bill intended to tighten mandatory wealth declarations. The Law Commissioner is drafting amendments to the law, which is known as ‘pothen esches,’ to comply with recommendations from the Council of Europe’s anti-corruption body. Some members of parliament argued that the current system in Cyprus is already the strictest in Europe.
From cyprus-mail.com
Why it matters
The discussion relates to strengthening anti-corruption measures within Cyprus. The Law Commissioner is tasked with updating the law governing wealth declarations, which are currently checked by the Tax Commissioner.
From cyprus-mail.com
Who's involved
- CyprusThe state where the mandatory wealth declaration system is being reviewed.
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The entities involved
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Cyprus
country in the Mediterranean Sea
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Europe
terrestrial continent located in north-western Eurasia
Related events
- ECB compares US and euro area household investment while warning that Cyprus faces investment challenges, alongside the CBC governor discussing financial literacy in Cyprus.
- MiCA regulation is now applying to crypto services, with CySEC overseeing crypto-asset providers in Cyprus.
- The UN established a framework for Cyprus settlement, while Turkey is accused of hypocrisy regarding the issue.
- Bank of Cyprus provided data showing that Greek investors are reducing their investment rates.