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All reports tagged with: "property tax"
CPAG update on transfer taxes and IPT
Earlier today CPAG, the Cyprus Property Action Group, issued an update regarding transfer taxes (Property Transfer Fees) and IPT (Immovable Property Tax)
Cyprus hotel and tourist associations oppose taxes
The Association of Cyprus Tourist Enterprises, STEK, and the Cyprus Hotel Association, PASYXE, are the latest groups to announce their opposition to the governments’ proposals on property tax.
Approach to property tax causing confusion
The Cyprus government plans to raise money by adjusting the valuation of real estate, which is still being calculated at 1980 prices, has sparked a political storm that has added to the general confusion surrounding the issue.
Cyprus ministers confirm property tax plan
Following their meeting earlier today, the Cyprus Finance and Interior Ministers have confirmed the government plans for its proposed reappraisal of the Island’s property tax system.
Taxing meeting for Cyprus ministers
The Interior and Finance Ministers of Cyprus are meeting today to discuss the technical issues involved in implementing the recently announced proposals for reassessing the Island’s property tax rates.
Cyprus property tax hike attacked
The Cyprus Democratic Rally Party’s Vice President, Averof Neophytou, has attacked the proposed tax hike on property calling it a tax raid by the government on 90% of Cypriot citizens.
Cost of owning a home in Cyprus could rise
The cost of owning a home in Cyprus could increase as a consequence of the package of measures announced yesterday by Interior Minister Charilaos Stavrakis and this may have the effect of further depressing the Island’s already beleaguered overseas property market.
Tax revenues slump, deficit increases
According to reports, Cyprus tax revenues slumped during January – November 2009 and the fiscal deficit increased to more than 3% of the island’s Gross Domestic Product, which means total losses during the period exceed €500 million.
Fall in tax revenue attributed to Cyprus property market collapse
The drop in Cyprus tax revenue collections is entirely attributable to the collapse of the property market and it raises concerns that if foreign demand fails to recover, the government will lose a significant source of revenue permanently.
Cyprus government urged to cut property taxes
The government of Cyprus has been urged to cut property taxes by the Land and Building Developers Association to help breath some life into the island’s beleaguered real estate market.
Cyprus property tax receipts plummet
Figures released by the Cyprus Inland Revenue Department reveal that tax receipts resulting from the sale and acquisition of property during the first eight months of 2009 have plummeted by more than €200 million compared to he same period in 2008.
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