Cyprus employers say bank tax plans are ‘inconceivable’ and ‘punitive’

The Employers and Industrialists Federation (Oev) has issued a warning against renewed efforts to impose additional extraordinary taxes on bank profits, arguing that such measures would harm the economy and undermine investor confidence.

The federation expressed deep concern over the reintroduction of discussions on further taxation beyond the special levy on banks that has been in place since 2011, stressing that bank profits are being inaccurately described as unexpected.

It...