14.9 C
Nicosia
Thursday, February 29, 2024

Nothing changes in the rent bill

Must read

Nothing changes in the rent bill

The Government's position regarding the granting of tax incentives to landlords who voluntarily reduce rents has not changed this semester.

Parliamentary Finance Committee re-examined the two bills on Monday. The first concerns a tax credit that will be granted to property owners and will be equal to 50% of the reduction that will be granted to the rent and must be between 30% to 50%. The rent discount should be for a period of one to 3 months. The second bill concerns the exemption from the extraordinary defense contribution to landlords who make a voluntary rent reduction.

A representative of the Ministry of Finance told the Commission that the position of the Ministry did not change regarding the incentives it has to offer for rents, after the suggestion of MPs to subsidize the tenant directly or to divide the cost of rent between the Government, landlord and tenant .

On behalf of POVEK it was stated that if the Government's proposal remains, then “we will weep over ruins” and many companies will be closed. POVEK added, insists on cost sharing, and considers that the bill needs improvements. At the same time it was mentioned that the measure has not been embraced by the owners because it does not suit them.

The Committee then discussed the wording of the legislation so that it would be clear that tax credit would not be granted for the part of the rent reduction of more than 50%.

The Chairman of the Finance Committee, Christiana Erotokritou, in her statements after the Committee, stated that the Government insists on its proposal on the issue of rents. He added that DIKO insists and considers that these measures are ineffective and that the Government should directly subsidize both the rents, especially of the companies that have been affected by the pandemic, as well as their operating expenses.

He also said that there is no assessment by the Government on the extent and impact of this measure during its implementation in the first wave of the pandemic. However, as he said, according to the information, the measure was not implemented effectively and did not relieve the tenants as much as it should.

Source: www.philenews.com

- Advertisement -AliExpress WW

More articles

- Advertisement -AliExpress WW

Latest article