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• Cyprus Corporate Tax Rate increased from 10% to 12.5% effective for the tax year 2013.
• Defense Contributions on interest income derived from deposits will increase from 15% to 30%.  This will take effect from the announcement in the official gazette of the Republic of Cyprus.
• Increase on the special bank levy from 0.11% to 0.15%.  This measure will be effective from the tax year 2013.