Latest Headlines

All reports tagged with: "immovable property"

Calls to change property tax provisions

MPs have urged the government to look again at the bill to increase Immovable Property Tax following warnings that the tax hike will drive the island’s economy deeper into recession.

Problems will continue after property tax shakeup

Significant changes to the way Immovable Property Tax is to be calculated are contained in the island’s bailout conditions bringing to an end the use of 1980 values but leaving some problems unsolved.

Cyprus draft bailout conditions leaked

The draft MoU between the government and the Troika is in the public domain. We summarise the specific points in the Memorandum of Understanding relating to the housing market and immovable property regulation & taxation.

Property tax set to increase

Property taxes in Cyprus are set to rise following the submission of a bill to parliament earlier today by the government designed to raise an additional €29 million/annum in state revenues.

Department of Land and Surveys Citizens Charter

The Department of Lands and Surveys ‘Citizens Charter’ provides information on the services it offers together with the procedures to be followed and the costs associated with various types of applications related to immovable property in Cyprus.

Developers continue Immovable Property Tax scams

We have received further reports of property developers in Cyprus continuing to extort money from buyers by using the threat of withholding Title Deeds to elicit payment of highly inflated amounts of Immovable Property Tax.

Property revaluations to start in 2012

In Cyprus, an individual’s Immovable Property Tax liability is based on the Land Registry’s assessment of the market value of a property at 1st January 1980; this is set to change as a reassessment of property values will start next year.

Cyprus tax loses rose to 626 million Euros in 2009

A report by the Island’s Auditor-general, Chrystalla Georghadji, show that Cyprus lost revenues amounting to 626 million Euros in 2009.

Cyprus property tax increase heading for the bin

The Cyprus government’s plans to raise an additional 80 to 100 million Euros in taxes from property owners in efforts to combat the recession may be rejected along with a proposed bill that would increase corporate tax by 1 percent.

Yet another Immovable Property Tax scam

Just when we thought we had reported all of the Cyprus Immovable Property Tax scams, yet another one rears its ugly head; this time by a well-known Paphos-based developer.

Back to top