Ukrainian PM urges Cyprus to decide on deposit tax plan

11:05, 20 March 2013
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Ukrainian Prime Minister Mykola Azarov Tuesday urged the Cyprus government to decide quickly on whether to impose one-off taxes on bank deposits, saying the indecision could affect world markets, according to Xinhua.

"The Cyprus authorities should not allow this crisis of confidence to spread with a domino effect," Azarov told a press conference.

However, he said the planned 9.9-percent taxes on bank deposits, as part of a proposed bailout of Cyprus's economy, would only have limited effect on Ukrainian businessmen.

According to the estimates of local experts, Ukraine might lose up to 200 million dollars, should the island's government impose the taxes on bank deposits.

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