Wednesday, January 30, 2008

Sun, sea, sand, low taxes, and it's still the EU

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.
If you are fed up with high taxes and miserable weather, you 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 yet, 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. READ ON

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