The Council of Ministers, chaired by the President of the Republic, Nicos Anastasiades, concluded at the Presidential Palace.
During the meeting, the Council of Ministers approved the Plan concerning the granting of sponsorship for the purchase of land, in order to provide for the possibility of reimbursement in the form of sponsorship of 14% based on the Plan, to a parent or guardian who transfers to his adult child land for the construction of a dwelling that is eligible for a reduced VAT rate of 5%. The other terms of the Scheme continue to apply. The differentiation was deemed necessary following a finding that unequal treatment has been created between persons entitled to a refund under the Scheme in relation to persons who are eligible for a reduced VAT rate of 5%.
The Council of Ministers also approved the signing of the Memorandum of Understanding on Cooperation in the Sectors of Higher Education and Science between the Ministry of Education, Culture, Sports and Youth of the Republic of Cyprus and the Ministry of Education of the People's Republic of China for the period 2022-2026. The Memorandum strengthens the relations between Cyprus and China in matters of Higher Education.
In addition, the establishment and operation of a branch of the French-Cypriot School in Limassol was approved, with an opening date of September 2022.
The Council of Ministers also decided to appoint the President and members of the Fiscal Council for a four-year term of office from 17 January 2022. Mr. Kyriakos Georgiadis was appointed President, and Mr. Kyriakos Psaras, Mr. Andreas Kailas, Mr. Aristotle Misos and Ms. Andrea Manoli were appointed members.
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