A little Cyprus background.

[empip]

From The Telegraph newspaper. 16 Jan 2008
Pensioners who are fed up with Britain's high taxes and miserable weather can escape both without leaving the European Union by moving to an English-speaking country with a flat rate of income tax at 5 per cent or annual allowances of more than £14,600 tax-free. Better still, savers who have retired can receive interest from bank deposits and sharholdings entirely free of income tax - and inheritance tax has been abolished on this Mediterranean island.

Cyprus, which joined the EU in 2004, is setting itself up as something of tax haven for people of with a wide range of incomes - not just millionaires. Better still, the favourable treatment of pensioners is not age-related. It applies to anyone in receipt of pension income - and so it includes those who have taken early retirement...

http://tinyurl.com/yd7kuee

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[EddieM]

Better alternative then Oz eh?

 

[jeds]

That sounds fantastic. And what could go wrong?

 

[JohnD]

not much in the way of tax

the government was unable to bale out the banks from its own resources.

Could there possibly be a connection?

 

[joinerjohn]

Easy way round it. Keep yer money in a British bank. Whenever I've been to Cyprus the cash machines accept my bank card. (or can't ya do that if you actually live there? )

 

[AronSearle]

not much in the way of tax

the government was unable to bale out the banks from its own resources.

Could there possibly be a connection?

Not really.

Government tax doesn't end up sitting in some account ready for such bailouts, it just goes on expenditure. So whether taxes are 5% or 40%, it's being spent on something.

What matters is their ability to borrow, and that is based off their economy, and their economy is..............?

 

[Graeme1983]

People will go back to hiding it under the bed soon.

 

[chapeau]

Hard to blame them, I can see this happening here too.

 

[Nige F]

Hard to blame them, I can see this happening here too.

I` m gonna knock up a lead valance for my bed - I knew someone had been psychically viewing my stash

 

[pred]

Hard to blame them, I can see this happening here too.

I` m gonna knock up a lead valance for my bed - I knew someone had been psychically viewing my stash

I'll sell you mine cheap..