International businesses are being robbed in Cyprus

international business

On March 26th 2013 Axel von Schubert, President of JP Capital Investment Ltd, wrote a passionate article for Spear’s against the Cypriot government’s measures to increase corporate tax rate for international businesses, increase the special defense contribution on interest and increase the annual levy on bank duties.

Dr von Schubert called the measures “legalised robbery” and felt that it was setting a “dangerous precedent that opens the flood gates to a highly questionable, immoral solution to any future government bail-out”.

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