Economy category powered by
Finance Minister: Public interest rate on arrears at 5.5%, court interest rate at 6%
07:43 - 31 December 2024
Finance Minister, Makis Keravnos, has set the public interest rate for arrears at 5.5% and the court interest rate at 6%.
The decrees were issued on 30 December and both interest rates come into effect as of 1 January, 2025.
According to the decree setting the single public interest rate for arrears for 2025, the public default interest rate is set at 5.50%, while at the same time the relevant decree for 2024, which set the public default interest rate at 5%, is repealed.
According to the law, public interest rate on arrears is interest payable by or to the state as a result of a failure or delay in the repayment of any overdue debt or debt owed by or to the state.
At the same time, the Minister issued a decree setting the court interest rate at 6%, up from 5.50% in 2024.
(Source: CNA)
News Feed
21 hours, 39 minutes ago Companies
The establishment of AMLA, upgraded requirements and compliance challenges for foreign businesses within the EU21 hours, 53 minutes ago Current Affairs
President Christodoulides’ visit to Finland in pictures22 hours, 4 minutes ago Technology
Formulaw COO Violetta Skittidi: The blind spot, in our view, is that we underestimate our own relevance1 day, 16 hours ago Economy
Marios Cosma: Cyprus has been and will always be an investment destination1 day, 17 hours ago Companies
Larnaca 2030 issues open call to the city's business community1 day, 18 hours ago Companies
Threedium included in Top 500 fastest-growing tech companies in EMEA1 day, 19 hours ago Companies
Cablenet presents “Hassle-Free Living” in Limassol