Cyprus is planning to remove the ban it has set for years on casinos and wants to offer tax exemptions on profits that have been reinvested unto the island under a new reform package in an effort to help ease its ailing economy. Cyprus has an outsized financial system in place which could attarct foreign deposits, especially from Russia. It also wants to attract more tourists to the south of the island which it hopes to achieve by allowing the setting up of casinos in that area.
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