- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Immovable Property Tax collected €84.48 million

Immovable Property TaxTHE GOVERNMENT had collected €84.48 million from the immovable property tax (IPT) 2015 by December 3, which accounts for some 82.25% of the total amount owed.

The total discount granted to tax-payers who paid the tax by December 1 – benefiting from a discount of 20% and 17.5% according to the relevant law – was up to €20.29 million. The percentage of individual taxpayers who have paid their tax was 89.55%, while the responding percentage for legal persons was 70.49%.

A total of 77% of taxpayers who belong to higher tax brackets have paid. According to the records of the tax department, 272,003 tax payments were imposed.

The amount which remains to be collected is €22,804,614, which corresponds to 17.9% of the total amount due of €127.39 million.

– Cyprus News Agency