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Cyprus property taxes in 2017

There have been a number of changes to various property taxes in Cyprus in recent times and a summary of the impact of those changes for individuals with property on the island are summarised below.

Tax incentives target rich foreigners

A 50 per cent cut in Property Transfer Fees and other tax incentives have been announced by the Cyprus President in efforts designed to attract high-net-worth foreign investors to the island.

UK tax man targets second home sellers

HM Revenue & Customs (HMRC) has launched a campaign aimed at raising cash from people who have sold properties that are not their main homes, but haven’t told the taxman about any profits they may have made.

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