Traduction de «Taxe sur les plus-values immobilières » (Français → Anglais) :

immovable property transfer tax

capital gains tax

capital revenue

inflation tax

Capital gains tax: Commission asks Luxembourg to amend its legislation

15. Notes that in May 2011, Cyprus lost access to international markets due to the significant deterioration in public finances as well as the heavy exposure of the Cypriot banking sector to the Greek economy and the restructuring of public debt in Greece, which led to sizeable losses in Cyprus; recalls that years before the beginning of the EU-IMF assistance programme in 2013, serious concerns regarding systemic instability in the Cypriot economy had been raised, owing inter alia to its overleveraged and risk-seeking banking sector and its exposure to highly indebted local property companies, the Greek debt crisis, the downgrading of Cypriot government bonds by international rating agencies, the inability to refund public expenditure from ...[+++] the international markets, and the reluctance of the Cypriot public authorities to restructure the troubled financial sector, opting instead to rely on a massive injection of capital by Russia; recalls also that the situation has been made more complex by the over-reliance on savings coming from Russian citizens and by the recourse to a loan from the Russian authorities; further notes that in 2007, the Cypriot public debt-to-GDP ratio stood at 58,8 %, rising to 86,6 % in 2012, while in 2007 there was a general government surplus of 3,5 % of GDP which nonetheless became a deficit of -6,4 % by 2012;

(5a) The European Parliament, in its resolution of 4 December 2008 on the European Court of Auditors' Special Report No 8/2007 concerning administrative cooperation in the field of value added tax, expressed its conviction that the introduction of Eurofisc can provide added value only if participation therein is compulsory for all Member States in order to avoid the problems encountered by Eurocanet and if the Commission fully participates in the activities of Eurofisc and plays a coordinating role;

The deterioration in the deficit in 2004 to 1.1% of GDP from 0.1% in 2003 is mainly due to the mechanical effect of the one-off boost to revenues of advancing the date of payment of capital gains tax in 2003.