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Cyprus Bank Deposit Tax Could Reach 40 %!

The Cypriot government didn't vote the first law proposal, which would have taxes accounts below 100,000 euros with 6.75 % and with 9.9 % the accounts above.

Now a new proposal might be approved - one that might leave the accounts under 100,000 euros untouched, but would impose a heavy 40 % tax on any account above 100,000 euros. Obviously, the latter would be extremely detrimental to the rich and to many foreign interests. The new proposal would certainly drain billions of euros-worth of sums from various foreign off-shore deposit-holders.

Recent Developments in a Video by RT:

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