The Department of Taxation (DoT) issued an announcement informing the public that a campaign will be initiated to ensure that the individuals that applied and got approved to pay a reduced VAT rate of 5% on the acquisition/construction of their main and permanent residence in the Republic are actually using the specific immovable property in accordance with the provisions of the Law.  

The European Banking Authority ("EBA") published three final draft technical standards that are crucial for the implementation of the EU Banking Package and will allow supervisors to monitor institutions’ compliance, thus fostering consistent and enhanced supervision.