• About Us
  • Our Services
  • Subscribe
  • Advertise
  • FAQ
  • Contact Us
Login | My Posts
Accountants in Cyprus
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Cyprus VAT
    • Cyprus Accountants
    • Cyprus Economy
  • Find Accountants
  • Contact Us
No Result
View All Result
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Cyprus VAT
    • Cyprus Accountants
    • Cyprus Economy
  • Find Accountants
  • Contact Us
No Result
View All Result
Accountants in Cyprus
No Result
View All Result
Home Publications News & Announcements

Bank of Ireland says making progress on recovery

April 23, 2013
in News & Announcements
Reading Time: 2 mins read
EARLIER this month Limassol district court acquitted the Ermes Department Stores of violating the anachronistic, pre-EU membership sales law. The company had been charged with advertising discount prices outside the shop sales period designated by the commerce and industry ministry, as if we operated under a command economy.

It was the second time in a few months Ermes had won such a court case. In July another court acquitted the company in a case involving similar charges. Both courts accepted the company’s position which argued that the sales law was in violation of an EU directive on unfair commercial practices.

Logically, this law should have been scrapped a long time ago because it blatantly restricts competition at the expense of the consumer whose rights everyone, supposedly, wants to protect. But if neither common sense nor the rights of the consumer could have persuaded the authorities to scrap it, they should have at least complied with the EU directive.

But it seems not even the court decisions could persuade the authorities to back down and the ministry was advised by the Attorney General to press ahead with the hundreds of similar cases pending. This is because the Attorney General plans to appeal against the district court decisions and would carry on prosecuting until there was a ruling by the Supreme Court.

So now we have to wait for the Supreme Court to decide whether an EU directive overrides local law or not. In the meantime, the commerce ministry will waste the time of the law-courts with the hundreds of cases relating to violations of the irrational sales law, knowing full well that they will be lost. The absurdity must be upheld until the bitter end, it seems.

The Attorney General could have told the ministry to suspend all prosecutions until the Supreme Court issued a ruling. But the charade will continue, we suspect, for political reasons. The small shopkeepers’ association POVEK, which represents a large number of voters and is very close to AKEL, has been a champion of the sales law – it had pressured politicians to draft and approve it – which may explain why the authorities are so reluctant to scrap it.

No party would dare speak out against this absurdity because nobody wants to lose the POVEK vote. So the state will carry on wasting the law-courts’ time, prosecuting shops for advertising discounts and losing the cases, for no reason other than to keep a ridiculous organisation, opposed to competition, happy.

cyprus-mail.com
ShareTweetShare
Previous Post

EU should open Serbia membership talks, Commission says

Next Post

Larnaca solidarity concert

Next Post

Larnaca solidarity concert

Newsletter

Latest News

Financial Services Sector: Future of Finance
Articles

Financial Services Sector: Embracing the Future of Finance

March 24, 2023

This article delves into the DLT Pilot Regime, its objectives, and its significance in the European financial services sector. The...

Read more
Financial Services

More financial services included in accountants portfolio

March 23, 2023
InvestPro ONline- Cyprus Preview

InvestPro Online Cyprus Preview

March 23, 2023

Accountants in Cyprus is an accounting portal that consists of information in the field of finance and a network of Cyprus accounting firms and other financial service providers .

USEFUL LINKS

  • Accountants in Nicosia
  • Accountants in Limassol
  • Accountants in Larnaca
  • Accountants in Famagusta
  • Accountants in Paphos
Menu
  • Accountants in Nicosia
  • Accountants in Limassol
  • Accountants in Larnaca
  • Accountants in Famagusta
  • Accountants in Paphos

USEFUL LINKS

  • Cyprus Tax Consultants
  • Tax Planning Cyprus
  • Tax Benefits Cyprus
  • Double Taxation Treaties
  • Cyprus Accounting Firms
Menu
  • Cyprus Tax Consultants
  • Tax Planning Cyprus
  • Tax Benefits Cyprus
  • Double Taxation Treaties
  • Cyprus Accounting Firms

AFFILIATED SITES

logo-lawyers-in-cyprus
lawyers-malta
2022 © Accountants in Cyprus. All Rights Reserved. Developed by Wizzweb
  • About
  • Cyprus Accounting Services
  • Auditors in Cyprus
  • Contact Us
No Result
View All Result
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Accountants Cyprus
    • Cyprus Economy
  • Find Accountants
  • Contact Us
  • Our Services
  • Subscribe
  • Advertise
  • FAQ

© 2023 Accountant in Cyprus

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.