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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ Cremation and the tax man ]

Cremation and the tax man

Sir,

Following Jill Campbell McKay's comprehensive and helpful article last Sunday (May 18) about the need for a crematorium in Cyprus, some comment from a financial adviser requires a little expansion. The advice, quite correctly, was that if a will contained a request for a body to be taken back to the UK for either burial or cremation, or if the ashes after a cremation in Cyprus were to be returned in accordance with wishes within a will, then any inheritance tax planning would be at immediate risk and the estate would be liable for an extremely punitive take by the Inland Revenue.

However, to avoid any possible later disadvantageous tax interpretation, it is crucial for anyone who is anxious to ensure their carefully planned IHT situations remain uncompromised, that their wills plainly state: "I wish to be cremated in Cyprus."  If, when the time comes, there is no crematorium on the island, then that becomes a matter for the surviving relatives to resolve.  But the deceased's willed intention has been made in writing and remains perfectly clear. No Inland Revenue Official could quarrel with that.   

Clive Turner

Kamares, Paphos


(Source: Cyprus Mail)



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