Tax Probe Targets Former President; Energy Link Advances
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A newly formed committee has initiated an investigation into the tax affairs of individuals allegedly involved with a 'Mafia State,' with former President Nicos Anastasiades, his family members, and associates reportedly at the center of the scrutiny. This comes alongside the uncovering of an Israeli circuit involved in smuggling cigarettes from the occupied territories, highlighting ongoing illicit trade operations.
In economic news, the Great Sea Interconnector project has moved into a new phase with Greece's Independent Power Transmission Operator submitting an investment request for the Cyprus-Israel segment. Furthermore, the Council of Ministers has made decisions regarding two major shopping malls in Limassol, and a new bill concerning multinational taxation is under public consultation.
The Land Registry is working to resolve issues with stagnant real estate, a move that coincides with a significant increase in building permits for residential apartment blocks, fostering hopes of stabilizing housing prices. Meanwhile, the newly elected parliament is preparing for a busy legislative agenda upon resuming sessions in September.