Why there is defense tax in Cyprus?

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mneilson

Corporate Services
Business Angel
I know, defense expenditure is the sole right of Cyprus Government to collect it whenever and wherever they want. But many more offshore destinations such as Belize and BVI etc does not collect any defense tax from their citizens. So Why there is defense tax in Cyprus?
 

richardm1964

Offshore Agent
Every independent nation has it's own right to impose any kind of tax. If a new tax known as "defense levy" is being imposed bythe government of Cyprus, there is nothing to be surprised. It is levied on Bank interest, dividend earned from Cyprus as well as overseas companies. These above taxes are tax free in Cyprus. So "defense levy" in Cyprus is not bad indeed.
 
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