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Cypriots Anxious About Savings Tax Proposal
Cashpoint machines in Nicosia are empty after Cypriots took out money from their Banks on news of a proposed 10 per cent tax on savings. The embattled government on Sunday postponed until Monday an emergency session to vote on the proposed bank levy. That could see savings over 100,000 euros hit with a 10 percent tax. Deposits less than 100, 000 euros would be subject to a tax of almost 7 percent.
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