Guernsey increases income tax allowance
GUERNSEY has increased income tax allowances but also raised taxes on property, petrol, alcohol and tobacco for the third year in a row.
The Cyprus government plans to hike VAT by two percentage points and increase a handful of other taxes as part of a watered down austerity package which aims to raise 600 mln euros, that may find resistance in parliament as it does little to reduce public spending and cut down on a bloated civil service.