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Big landowners not paid tax bill

It appears that more than 33,000 large landowners who own property valued in excess of half a million Euro at 1980 prices have not paid their Immovable Property Tax according to the daily Phileleftheros.

Big landownersTHE GOVERNMENT says it managed to collect €86 million from tax payers who took advantage of the early discount filing period in 2015, but revenue fell short of the goal as big landowners have yet to pay.

While the state had set a target to collect €100 million in Immovable Property Tax (IPT), it appears the majority of those who have not paid yet, over 33,000 people according to daily Phileleftheros, own land or property over half a million based on 1980 prices which translates to over €5 million today.

Senior tax officer Klelia Papadopoulou said the pool of immovable property owners totals 273,052 and the data running through December 29 show that 239,413 owners paid a total of €85.8 million.

The total money saved by taxpayers who filed early, which was through December 1 with a 20% discount, amounts to €20.3 million, said Papadopoulou.

The official also told Phileleftheros that the majority of taxpayers made electronic payments amounting to €77.3 and the rest of the money was received at cash registers.

Those who paid in-person prior to the discount being voted into law are still eligible to receive the 20% discount, according to Papadopoulou, and the department will send out tax refunds by post.

The late period for filing taxes does not include any discount, on the contrary there is a 10% administrative fee assessed to the total money owed.

In the meantime, the House is still reviewing a bill that would bring tax returns under a single index of 1/thousandth based on prices in 2013. Eliminating local and municipal taxes is also being discussed following a commitment between the state and the troika of international lenders.

Papadopoulou criticised the story in Phileleftheros on Friday, when she spoke on state radio CyBC3 saying the paper was exaggerating.

The senior official maintained that the Tax Department is satisfied with the tax revenue for 2015.

For the 2014 tax year, the state had met its €100 million goal last year by collecting €104 million out of the total €135 million.

Copyright © 2014 Phileleftheros Public Company Ltd

Readers' comments

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  • Aggis Demetriou says:

    Perhaps once there’s a resolution with the North, the government will get over 200m in IPT.

  • Peter Davis says:

    @ Mike

    Even better news, when the Government fails to comply with the EU regs. on the Akamas it will be the tax payer picking up the fine imposed on Cyprus and not those responsible.

    And it will happen. The developers will have the money in their pocket and it will theirs to keep.

  • Mike says:

    I don’t suppose a lot of those owing large sums would be the same individuals wanting to develop the Akamas into another concrete monstrosity now would it? I must be far too cynical in my old age!

    Interesting to note “The senior official maintained that the Tax Department is satisfied with the tax revenue for 2015” – talk about acceptance of mediocrity and failure. There are around 30000 out of a tiny population which is a massive figure who have not paid but that’s OK because we have collected some so that’s good enough. Pathetic, we obviously have no heart or desire to be perfect and an example of excellence. Apathy rules.

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