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Archive for 2014

Title Deeds for development projects

The latest monthly figures on the number of Title Deeds issued for development projects across the island during 2014 published by the Cyprus Department of Lands and Surveys in Nicosia.

Eighty per cent IPT revenue collected

In 2013 the Cyprus government collected €98 million Immovable Property Tax (IPT), approximately 80 per cent of the total according to figures provided to Parliament by the Finance Ministry.

Thirty companies owe €100m in VAT

The Greek language newspaper Politis has published the names of thirty companies who together owe the more than €100 million in VAT most of whom have challenged all or part of the debt.

Cyprus building permits down 14 per cent

The number of building permits issued in Cyprus during July fell 14 per cent compared with the corresponding month of last year, while the number of new homes being built fell 39 per cent.

Non-performing loans €27.90 billion

Non-performing loans (NPLs) in the Cypriot financial system fell from €27.95 billion in July to €27.90 billion in August, approximately 175 per cent of Cyprus GDP according to the Cyprus Central Bank.

Paying Immovable Property Tax 2014

I am grateful to Mr. Christofi at the Tax Department in Nicosia for the following information concerning the payment of Immovable Property Tax by those who have yet to receive their Title Deeds.

Paphos mayor in court today (Update)

Savvas Vergas, the Paphos mayor, is scheduled to appear before the Paphos District Court today in connection with threatening SMS messages sent to a number of people involved in the Aristo case.

No foreclosure law no money

Eurogroup President Jeroen Dijsselbloem told a news conference that putting legislation in place to deal with the high level of non-performing loans (NPLs) is essential for Cyprus to return to financial health.

Encouraging property sales

The number of property sales in Cyprus increased for the seventh consecutive month in September compared to last year with sales up in both the domestic and the overseas markets.

Aristodemou: trial date set (update)

The boss of Aristo Developers, Theodoros Aristodemou, and three of the other four suspects in the alleged Skali land scam were released under terms on Tuesday until their trial on 30 October.

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