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Parliament approves VAT on building land

The new bill imposing VAT on building land has been approved by parliament and will come into force on 2nd January 2018 some ten years after the deadline set by the European Union.

Steps to prevent Cyprus property price falls

Solutions are being sought from the Finance Ministry that will prevent property prices in Cyprus falling when the banks sell off the properties that have accumulated on their balance sheets as a result of repossessions and debt-to-asset swaps.

Over 306,000 to pay Immovable Property Tax

If the Cyprus parliament passes the proposed changes to Immovable Property Tax the government expects to collect €44.4 million from more than 306,000 taxpayers, while some 65,000 taxpayers will be exempt.

Bill to curb bank usury

A vote on a bill to abolish unfair bank charges, such as a fee to monitor loan transaction history, insurance, added interest rates and other hidden charges, will take place at a plenary session of the Cypriot parliament next week.

Loan sale bill passed by whisker

The bill administrating the sale of loans was has been passed by the Cyprus parliament by the narrowest of majorities although it remains to be seen whether it meets with the approval of the troika.

Hidden mortgage bill expected to pass

The hidden mortgage bill, designed to assist trapped home buyers who were duped into buying property built on land that nefarious developers had earlier mortgaged to the bank, is expected to pass at tomorrow’s plenary.

September vote on hidden mortgages bill

A vote on the ‘hidden mortgages’ bill designed to resolve the mess of those who have paid for their property but cannot get its Title Deed because it was mortgaged by the developer will take place in September.

MPs slammed over hidden mortgages bill

The Cyprus Interior Minister Socratis Hasikos slammed MPs for shelving the Title Deeds bill designed to address the inability of home buyers to get the deeds to the property they purchased.

Parliament approves casino bill

Legislation passed by a majority Cyprus MPs at the plenary session of parliament earlier today paves the way to the operation of a casino resort in Cyprus after many months of discussion.

Cabinet approves hidden mortgages bill

Interior Minister Socrates Hasikos has announced that the basis of the bill to resolve the ‘hidden mortgages’ problem that prevents thousands obtaining Title Deeds to the property they purchased has been agreed by the Cabinet.

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