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Immovable Property Tax payment and collections

Around 76,800 people have paid their Immovable Property Tax this year according to official statistics, but the majority of those who have paid their tax appear to be the owners of modest properties.

FOLLOWING changes to the law, everyone who has purchased property in Cyprus is required to pay Immovable Property Tax (IPT) this year, regardless of whether they hold the Title Deed to the property.

Those without the deed to the property they purchased should complete a Form 318 2014 (English & Greek) and pay their IPT liability by 31st October to benefit from the 15% discount on offer. (Note that T.I.C and M.V. on the 318 refers to Taxpayers Identification Code and Market Value.)

Those who are not registered with the Inland Revenue here in Cyprus need to complete a Form I.R. 163A/2014 to register on the tax system.

Non-residents (who are not liable for Cyprus Income Tax) need to complete sections 4, 6, 10, 11, 12, 13, 16, 22 and in section 14 tick box 92 – Individual with Immovable Property obligation ONLY, plus their name, signature and date at the bottom of Form I.R. 163A/2014 – and should send the completed forms, together with a clear copy of their passport page showing their photograph and the passport number to: The Department of Taxation, 1472 Nicosia, Cyprus.

The Inland Revenue is opening a new file for each non-Title-Deed-holding IPT payer so that any discrepancies can be resolved between the vendor and the purchaser when the Title Deed is issued.

IPT collections to date

So far this year around 76,800 people have paid a total of €23.5 million IPT according to official figures, up from €22 million at the same time last year. But it appears that only those with modest properties have paid; if those with higher value properties and those with multiple properties had also paid, IPT collected so far would be closer to €34 million.

Speaking to the Phileleftheros, an Inland Revenue official said that the process of ensuring that IPT is paid has been hindered by property developers. Some have supplied incomplete lists of properties they had sold and some of the forms omitted the value of the property purchased, or ID of the purchasers or their addresses making them hard to trace.

Readers' comments

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  • @GAIL on 2014/10/13 at 12:47 pm – Yes, you should send the completed 163A to the Tax Office and also the 318A when you have the information from your developer.

    Last year you could send the information by email to [email protected], but I’m not sure if this is available this year (I’m waiting for a reply from the Inland Revenue office in Nicosia). You can see how things were done last year at Money off your Immovable Property Tax bill

  • @SB on 2014/10/13 at 6:22 pm – Yes, non-residents are liable for IPT. I suggest you get in touch with your developer as they should have notified you about the changes in the law.

  • SB says:

    Nigel – sorry if this has been covered but if you are a non-cypriot resident and do not pay Cypriot tax, are you still liable for the IPT? We do not hold the title deeds either. We haven’t had any correspondence about this nor have the developers (who are not in liquidation and are in correspondance with us) mentioned it at all. Your article is the first I’ve heard of it. Thanks

  • GAIL says:

    I know we all keep asking the same questions, but just want to ensure I do things correctly. My developer keeps asking for taxes sewerage etc but will not supply evidence that he has paid therefore I have not sent him any money. He has my correct Address, but I have not received a bill from the Tax Office. Do I now send the tax office form 163A?

    I do not have my title deeds so do I have to ask the developer to supply the answers to form 318A and forward this to the tax office? Can these forms be emailed to the tax office to save time? It’s not likely now that I will receive a bill before 3oth October to be able to pay in time.
    Thank you.

  • @Sarah Wheatley on 2014/10/13 at 9:39 am – As stated in the article, the address to send the completed forms is: The Department of Taxation, 1472 Nicosia, Cyprus.

  • Sarah Wheatley says:

    and where do I send form 163?

  • Sarah Wheatley says:

    What address in the article?

  • @Dave on 2014/10/09 at 2:28 pm – You send the completed forms to the address in the article. They will send you an IPT notice and I guess you can either send a cheque or pay on-line via JCC Smart.

  • Dave says:

    Hi, What do we do with form 318? Who does it get sent to once complete and how do we actually pay the tax when not in Cyprus?
    Thanks

  • @dimitri on 2014/10/07 at 8:06 pm – This is a question for the Land Registry to answer as it is they who assess a property’s market value.

    This issue has been raised in the past. A ‘grey’ property – i.e. one with minor infringements recorded on its Title Deed – will have a lower market value than a similar property with a ‘clean’ Title Deed. A ‘black’ property – i.e. one with major infringements on its Title Deed – will have no market value as it cannot be sold (although it can be inherited) – but the land on which it stands will have a market value.

    It will be interesting to see if and how a ‘black’ property can be transferred to a purchaser. (Personally I would refuse to accept the property until the planning issue had been rectified by the transgressor and the ‘black spot’ removed.)

  • dimitri says:

    Market value what would be the assessment of this be if a property that has been purchased suffers from such a major building code infringement that for all intents and purposes it is ‘frozen by the land registry’ and developer cannot transfer title deeds to purchaser until he remedies the problem….is this property worth 0, is this a question for the land reg. or for the inland revenue to answer….?

  • There’s no need to pay someone to translate the IPT notice, you can find a translation of last year’s form by clicking here.

    Suggest you visit the Inland Revenue office yourself and sort it out rather than consulting “a local accountant at considerable expense”.

  • @Diane on 2014/10/07 at 4:39 pm – The way it was supposed to work was that property developers would supply a list of properties they had sold together with the names and address of the purchaser/transferee/beneficiary, date the property was purchased, value, date of possession, etc. – and the Inland Revenue would then send an IPT notice to the purchaser/transferee/beneficiary. However, this did not apply in cases where the delay in issuing title was the fault of the owner of if the company was in liquidation.

    Furthermore, if the developer didn’t supply a list within 45 days of the law coming into effect, the developer would be liable for all the IPT on the properties – sold and unsold.

    (You can find a translation of the law on the last few pages of 108(I)/2014 LAW AMENDING THE PROPERTY TAX PROPERTY LAWS OF 1980 TO (No. 4) 2013.)

    The problem is now that some developers have supplied incomplete lists of the properties they have sold, some of the forms omitted the value of the property purchased, or ID of the purchasers or their addresses making them hard to trace.

    I’ve just checked to see if the law has been updated – it hasn’t. So the above still applies in theory.

    If you do not have the Title Deed and the Inland Revenue hasn’t issued you with an IPT notice, you could assume that the developer has been billed – and not pay yourself. However as the property developer will bill you, you will pay tax at a much higher rate than if you paid the IPT directly to the Inland Revenue.

    To add to the confusion the Tax Office in Nicosia issued a letter which roughly says towards the end that “For avoidance of excess suffering buyers are encouraged to submit this form [Form 318 2014] agreed with the seller by filling in the correct data. If there is a difference between the value declared by the seller and that the buyer the seller and buyer have the obligation to come forward and settle obligations when issuing the title deed.”

    I spoke with the Tax Office in Nicosia last week – and the chap I spoke with confirmed that those who had bought property and did not have its Title Deeds should complete Form 318 2014 and sort out the tax owed.

  • IvanMoore says:

    I received my IPT bill, and paid via jccsmart. Easy,I thought!

    However, a week later I have received another IPT bill bearing the same date as the first one, but with a different jccsmart number. This second bill is for ten times the original bill. Both purport to be for the same time period.

    Since everything is in Greek, It looks as if I shall be obliged to consult a local accountant, at considerable expense, to try and unravel this.

    Has anyone else had a similar experience?

  • Diane says:

    Nigel in the article Cyprus Immovable Property Tax 2014 published on 27 July 2014 it says

    ‘The law contains provisions that remove a purchaser’s obligation to pay IPT if their development company is in liquidation or if the delay in issuing Title Deeds is the fault of the owner (the developer) although who is going to decide the developer is at fault and how they’re going to reach that decision is not specified and will no doubt be the subject of many claims and counter-claims’ . …..has this provision been removed please?

  • @Molliemoo on 2014/10/07 at 1:00 pm – The problem is the law doesn’t cover this situation. So unless the Inland Revenue has been issued with guidance, they will not know how to deal with the situation.

  • @Paul Bates on 2014/10/07 at 11:49 am – If a property has been purchased in joint names, both parties need to complete a Form 318.

  • Barbara says:

    Hi Nigel,
    Like Molliemoo our development is also in the hands of the liquidator but quite frankly he’d be the last person I’d contact for advice on whether to pay IPT because he can’t be trusted to give an honest answer.

  • Molliemoo says:

    Well I rung the number given below for Famagusta IPT Helpline re whether I need to pay IPT as our block is in Receivership but they didn’t know. They gave me another number of the main offices in Dhyrenia but they didn’t know either but said to go along with whatever I had and they would have a look.

    Not too confidence inspiring.

  • Paul Bates says:

    If a property is registered in joint names and both have TIC no’s, do both parties have to complete form 318 or is it one form per property?

  • Jan says:

    I have a real problem with this IPT scam, letting the developers off the hook as it does. Why should we pay now for something that’s promised later – and may never materialise. Would a little bit of civil disobedience not indicate to the so-called governing bodies that they’ve got it wrong? The Cypriots on our complex seem remarkably relaxed about the whole thing, paying that is.

  • @M n M on 2014/10/06 at 5:52 pm – I suggest you call the relevant Immovable Property Tax helpline to see what’s happened:

    Nicosia – 22807488, 22807277
    Limassol – 25803700, 25803746, 25803878
    Larnaca- 24803658, 24803655
    Famagusta/Paralimni – 23811458
    Paphos – 26804342, 26804337

  • @Paul W on 2014/10/06 at 5:21 pm – This seems to be a new ‘innovation’ that’s been introduced this year. I’ve heard the same story from other people. I expect it’s part of the drive to reduce the Title Deed backlog as agreed with the Troika. It’s nothing to worry about.

    I suggest that you register with the Inland Revenue (if you’re resident in Cyprus you should have done this already). The main purpose for registering is so the Inland Revenue an send future IPT demands to the correct address.

  • @Josh on 2014/10/06 at 4:29 pm – For those who received IPT notices, like you (and me), the on-line payment process is straightforward. I paid mine using my UK debit card. The problem this year is that those without Title Deeds have to pay.

  • @Paphos Christina on 2014/10/06 at 2:57 pm – I suggest you call the Immovable Property Tax helpline in Paphos on 26804342, 26804337.

  • M n M says:

    Last year we paid the tax but understand this year they are sending a bill. We don’t live in Cyprus and friends say there is no bill in our post box. Any idea of what we can do to beat the deadline please?

  • Paul W says:

    We purchased a property in 2006 and like everybody else have been waiting for title deeds since.

    We have now paid all outstanding debts to the developer, including past IPT, and have started out on the Title Deed procedure.

    We have paid the transfer money and have recently picked up a document from Paphos Land Registry (which is all in Greek.)

    On asking at the counter we were told that this document only applies to the piece of land that our house was built on and that a further document will be produced in about six months time relating to the house itself.

    Is this the normal procedure involved and do we need to register with the Inland Revenue office prior to receiving the complete set of Title documents.

    Your advice would be appreciated.

  • Josh says:

    Hi Nigel,

    I paid my IPT online on 08/09/14. The tax bill arrived all in Greek but the bit that mattered was very plain i.e. my IPT ref number about 1/4 of the way down just after AP JCCSMART.

    I logged in on JCC found the IPT section near the bottom of the tax page, input my ref no and it took about 3 minutes.

    Then I did my wifes’ bill and followed this with that of the old lady who lives next door and does not have a computer.
    Simples for me at least.

  • Paphos Christina says:

    Nigel

    We note your reply to Olliver says:

    You need to get the information needed on the Form 318 from your vendor/developer. You take the completed forms to your local Inland Revenue office.

    Our developer disappeared and we are seeking our title deeds through a legal route, this has been ongoing for several years no so we do not have the property value to complete the form 318.

    We are currently in the process of registering with the Cyprus Inland Revenue through a local tax accountant. What can we do?

  • @Olliver on 2014/10/06 at 1:46 pm – You need to get the information needed on the Form 318 from your vendor/developer. You take the completed forms to your local Inland Revenue office.

  • Olliver says:

    We do not have our title deeds? we have been advised they are in the pipe line. We have taken a copies of the Form 318. Where do we take the completed form and obtain the information asked for on the form??
    Help.

  • Atkinson on 2014/10/05 at 10:12 pm – The 1980 values of the two properties are added together and IPT calculated on the total.

  • Atkinson says:

    Hi.

    Regarding IPT 2014

    Any advice for those of us with more one property?

    We bought two properties in 2006 (off plan) and took possession 2008. Both properties are in joint names.

    Do we get the allowance for one property and pay the full rate on the other. Or are the 2 properties lumped together for valuation purposes?

    Heather Atkinson

  • Peter Davis says:

    @ molliemoo

    Once-upon-at time you could, BUT now the Cypriot authorities say that if you spend 180 days or more in Cyprus you MUST be taxed here.

    How they can work out how long you’ve been here is a mystery.

    There are also two tax levels, one for the retired which has not been increased since 2002, At €3,420 and one for the rest set at €19,500. BUT, although you can opt for either you normally get the less amount.

    I believe the biggest ‘killer’ is the defence tax’.

  • Ivan Moore says:

    It would be of great assistance if IPT and other tax forms could be in English when sent to addressees whose name indicates that they are English-speakers.

  • molliemoo says:

    I thought I could choose to be taxed in UK or here. I better get myself sorted.

    Thanks Nigel.

  • @DaveK on 2014/10/04 at 5:35 pm – I you look a the form 163A you are only registering with the Inland Revenue for IPT purposes, nothing more.

    If you bought the property in joint names, you will each need to complete the forms – and you should each receive an IPT notice.

  • Peter Davis says:

    76,800 out of over 800,000.

    If it’s anything like my village all the local houses are exempt (classed as under 200,000 euros).

    When the majority of these homes have been inherited without any mortgage or bear any relationship to the income of the family, it’s crass to expect the minority to carry the majority.

    There is no exemption in the UK all home have a banding, if this was implemented here it would be fairer and those paying could cut their bill by 50%.

  • Andrew says:

    Tens of thousands of new homes have been built in the last 30 or more years.

    Surely in many cases the 1980 value will relate to a bare field. Homes of differing sizes will have been subsequently built on those fields. Not everyone buys one plot and builds one home on it.

    Individual title deeds were rarely if ever issued for each home at the time of sale. Who therefore decides the 1980 value for each house on an unfinished project. Most homes and plots vary in size. So dividing the plot by the number of dwellings is not the answer.

    So called developers are often difficult or impossible to pin down. The whole system has been based on projects left unfinished in order to avoid taxes. This means Land surveys and plans are not always available to show a percentage of the land attributable to each home.

    The authorities should issue clear title deeds for each home built on sub divided land. The Title Deeds should show the exact size, shape and position of the plot and the built area on it. Then they can issue demands for IPT. The authorities have failed the people and now they force the people to pay on the basis of a guesstimate. Hasikos admits valuations mistakes.

    Many home buyers will have bought off plan (developers first draft) and now find years later that their home or the project in general is radically different.

    Any civilised system would ensure a field is first divided into individual plots for individual homes and that separate title deeds are issued for each new plot before it can be sold.

    A civilised system would protect its citizens. A civilised system would have decent Lawyers who would protect their clients.

    Then Cyprus does not have a civilised system.

    What ever happened to human rights in the EU.

  • DaveK says:

    If I haven’t had a bill by now, do I assume that the Developer has failed to notify the Tax office of my details (I have no Title Deeds as yet). If so will the bill automatically go to the Developer ?

    As I am not resident here, I am not overly keen to register with the Tax Authorities at all. However I presume that this is ultimately the only way to get the bill directly in the future.

    As our property is in joint names, do we both need to register separately with the Tax Office and would we then get individual IPT bills ?

  • @Mr chandresh Patel on 2014/10/04 at 3:30 pm – Your developer will (should be able) to advise you of the 1980 value of your property based on his tax return. And when its Title Deed is issued, this will show the Land Registry’s assessment of the property’s 1980 value.

  • @derek on 2014/10/04 at 3:19 pm – If your contract has been terminated and withdrawn from the Land Registry, you will not have to pay IPT.

  • Peter Kyriakides on 2014/10/04 at 2:36 pm – I cannot work this out for you without knowing the property’s 1980 value, which is shown on its Title Deed. Presumably you have this as you purchased 20 years ago?

    You can find teh current rate bands at Cyprus Immovable Property Tax 2014

    (If the property cost you CYP19,000 in 1994, I doubt you’ll have to pay very much.)

  • @molliemoo on 2014/10/04 at 2:31 pm – As a permanent resident here you are liable to pay income on your world-wide income to the Cypriot authorities. I suggest you get your registered with the Inland Revenue.

    You’ll need to speak to the receiver as to whether you are liable to pay IPT.

  • Scruffy says:

    @ Nigel:

    I doubt very much whether the banks , or Troika for that matter, care much about what a future “Cyprus Property Market” will look like. Everything they do is geared to getting in as much money to the bank as possible, as quickly as possible.
    There are many projects (like mine)where the margin of profit would be far higher for the bank should they sell the properties to 3rd parties rather than allow the purchasers to repay the outstanding developer loan.

    According to the BOC Debt Recovery Manager I have had dealings with, the bank is under no obligation to even speak with buyers without deeds, far less take offers to pay the outstanding loan.

    Even at heavily discounted auction prices he claims that they would make much more than the original outstanding loan so why should he deal with us. I have seen nothing from Troika or the government that would suggest protection from that mind set. Troika have already thrown out the Primary Home Protection amendment.

  • Mr chandresh Patel says:

    Hi I am a little confused regarding the value of the property as we purchased the property in 2006/7. Therefore will my Property be based on properties purchased in 1980?
    thanks chandresh

  • derek says:

    Nigel my contract of sale has been terminated by my lawyer for breach of contract through the courts and I can never get my title deeds the developer has built part of our house on our neighbours land do I have to pay IPT on the property the land is co owned by three people and don’t talk to each other

  • Peter Kyriakides says:

    I have a holiday property in Paralimni Cyprus which I bought in November 1994 for £19,000 Cyprus pounds and I want to know what property Tax I owe. It’s a 2 bedroomed apartment.
    Can you help?

    Thank you

    Peter Kyriakides

  • molliemoo says:

    Our block of apartments is in the hands of the Receiver according to our solicitor. Developer has large mortgage on the land prior to my purchase. Now disappeared from Cyprus couple of years ago and I have no mortgage – paid in full.

    I thought i saw somewhere that if the liquidators/receivers were involved then we shouldn’t pay the IPT but can’t find it anywhere now.

    I’m a permanent resident but pay tax in UK.

    Anyone have any advice please?

  • Johnny Cyprus says:

    Yes Nigel, I think many people can pay their Municipal taxes as well as IPT online with JCC Smart; most International credit cards are recognised. It might be a bit more involved than some systems, but I think it is a lot better than queuing up to face some grumpy civil servant.

    I am not sure if you must have a Cyprus mobile for the security process, but my Cyprus MTN pay as you go SIM works in the UK.

    Perhaps someone else here knows the answer.

  • @Andrew on 2014/10/04 at 1:17 pm – If you complete the forms and send them to the Tax Office, they will send you an IPT Notice to the address you’ve entered on the 163A.

    (I spoke with someone in the main Tax Office in Nicosia on Thursday.)

    As for losing your home as a consequence of developer’s debts, everyone in this situation is very worried. We’ll have to wait until the repossessions law has been passed to see what (if any) protection it offers those in this predicament.

    As I’ve said in the past, if the banks do seize properties that have been paid for as a consequence of the developers loans becoming non-performing, the property market in Cyprus will never recover in my opinion.

  • @Penny Bragge on 2014/10/04 at 12:08 pm – Unfortunately there is no way you can work out the 1980 value of a property. But your developer should be able to advise you based on his IPT returns as he will know the percentage of the property you purchased in relation to the whole development.

    As I mentioned in an earlier reply IR officers in Paphos are estimating a property’s 1980 value at €200/square metre of its covered area. You could try phoning the relevant help line to see if they can assist:

    Nicosia – 22807488, 22807277
    Limassol – 25803700, 25803746, 25803878
    Larnaca- 24803658, 24803655
    Famagusta/Paralimni – 23811458
    Paphos – 26804342, 26804337

    Both the Inland Revenue and the Land Registry raised concerns over the law, but the government went ahead with it anyway without thinking about the consequences of their actions.

    If you pay after 31st October you will not be entitled to the 15% discount on offer.

    BTW I’m not advocating that you should work out your property’s 1980 value by multiplying its covered area by €200 just in case you thought I was.

  • Andrew says:

    @Nigel. Thanks for the information and the relevant Inland revenue forms, but how do we know the IPT payable , if they don`t issue a demand. No IPT demand and not being in the country will make the deadline for a discount impossible for many.

    We want as much of your money as we can get and we are very likely to evict you from your home if you do not pay all of your developers debts. We don’t care if you have paid in full for your home and you are deprived of your title deeds. This is the message from Cyprus to the world.

  • Penny Bragge says:

    The information in the article of 3/10/14 is very helpful. How is it possible though to establish the value of one’s property at 1/1/80 ( required on form 318 of 2014) if no title deeds have been issued. I understand that the value at 1980 is established by the Cyprus Department of Lands and Surveys and entered on the title deed. Without this information it is impossible for us to fill in Form 318.

    Are those owners who have completed on the property but not been issued with title deeds going to be penalised for non-payment by 31st October as a result?

  • @Johnny Cyprus on 2014/10/04 at 11:00 am – I registered with JCC Smart many years ago to pay my road tax – I’d forgotten how I actually registered – thanks for the heads up. If you need a Cyprus mobile number to register it’s more than likely that those who have bought holiday homes here will not have a Cyprus mobile number.

    (Incidentally I paid my IPT via JCC Smart using my UK debit card – no problem).

    I see from the list of companies and organisations using JCC Smart services at https://www.jccsmart.com/Outlet that Mike may be able to pay his Municipal taxes on-line?

  • UBoat says:

    @ Nigel October 4, 2014 at 10:30 am

    Thanks Nigel…… Keep up the good work …..

  • Johnny Cyprus says:

    Nigel – my comment for Mike assumed that he has his title deeds, perhaps that is not the case.

    Invoices for IPT are of course issued and payable to the Tax Authority and not the Municipality, so one can’t blame them for not being able to help.

    The JCC Smart payment system works OK from abroad, provided one has ones Cyprus Mobile phone to receive the security code.

  • @UBoat on 2014/10/04 at 9:56 am – I understand these changes were introduced as a result of pressure from the developers. I would have no problem if it only applied in cases where the Title Deeds had been issued and was available for transfer (i.e. no mortgages or other debts including unpaid IPT and Capital Gains Tax), but as you say people facing the threat of losing their homes even though they have paid for them are also being asked to pay – this is totally unacceptable in my opinion.

    Unfortunately I don’t make the laws.

  • @Mike on 2014/10/04 at 9:00 am – People will (should) have most of the information in their Sale Agreement – name of the developer sheet, plot, plan.

    I’ve heard from some people who have been to the Paphos IR office to pay that the officers there are calculating the 1980 value of their property at €200/square metre of the covered area – and they’ve paid their IPT on that calculation.

    As for on-line payments, let’s just say that there need to be some improvements!

  • Johnny Cyprus says:

    Mike, you can now pay your IPT online using the JCC Smart service.

    Of course you must have sight of the bill to do this. If you have appointed a tax agent in Cyprus, they can receive the bill on your behalf and email it to you.

    Otherwise I am afraid you are right – the process is onerous.

  • UBoat says:

    So I (like others) am paying IPT on a property I cant borrow against because I do not hold the title deed and may Never own because of the same ……

    Also, if the developer has developer loans secured against it the bank can seize the property I do not own (but have been paying towards for years) to pay off the debt of the Developer (or part there of) Using my property as collateral.

    Its disgusting !!!

    I hope Cyprus sinks under its own weight of Greed!

  • Mike says:

    I find it difficult to comprehend how we are easily able to identify a single pork chop, exactly where and from what animal it came from, the exact farm and slaughterhouse it was despatched from and the name and identity of the butcher who butchered it to create the said pork chop. In addition we can immediately have to hand the authorised despatch process policy and all certification for the equipment used. Yet we cannot identify people with massive mansions or hotels that never move and use vast quantities of water, electricity and other services.

    If developers are not supplying “ID of the purchasers or their addresses making them hard to trace” then quite simply apply a nominal €500,000 nominal estimate to each domestic property that needs to be paid in law by the developer until such time the information is supplied. It soon will be available as interest accrued will not be refundable when the information is supplied and an adjustment made. For as long as the financial benefit is greater by not paying then do not expect to be paid.

    I am more bemused at the inability to pay municipal tax other than in person. I spend the months it is due, now, overseas but am not able to have my bill posted to me overseas, neither can I apparently leave a sum of cash at the municipality office to pay it and either donate the change to charity or keep it for me until I return and neither have I a means of paying it on-line as I can with my vehicle tax and insurance. All very quaint but sadly inefficient. The result – non payment! Unless one of you good people can inform me otherwise.

  • MartynG says:

    The final Section, 2 paras, above are very enlightening. The final para starts to open up the many and varied ways in which some (many?) Developers have been ‘duck in’ n divin’.

    Slowly over recent weeks we can see some of the layers of the rotten onions being pared back. The troika haven’t since last March had the best Press in Cyprus but let’s say that we may well not have been seeing such ‘movement’ on – and information about – we have seen over recent weeks.

    Long, l-o-n-g way to go yet but I see some essential traction now towards uncovering and exposing at least some of the worst practices, abuses in this country. It needs strong government now to ‘bite some of the big bullets’ to increase this recent momentum.

  • Russ says:

    @Nigel Howarth Thanks very much for the advice. We are over at Easter, so will do so then. Regards,

  • @Russ on 2014/10/03 at 8:45 pm – I suggest that everyone who has bought property registers with the Inland Revenue – not an immediate requirement, but who knows how things will change in the coming years. Maybe when you’re next in Cyprus.

  • Russ says:

    We are joint owners of apartment below the threshold, so our IPT is nil. Do we still need to register with the IR?

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