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29th March 2024
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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.

Developers oppose new property tax

Government proposals to introduce a tax on large houses and the troika proposal to accelerate foreclosures have been met with opposition from the Cyprus developers association.

Property tax incentive extended

Designed to stimulate growth in the island's beleaguered property market, tax incentives introduced in December 2011 for those purchasing new homes may now be extended until the end of 2013.

Christofias says no to transfer fee changes

The euphoria felt by property developers in Cyprus that the House of Representatives had agreed unanimously to abolish or reduce Property Transfer Fees for a period of six months may be short-lived as President Christofias has asked them to think again.

No decision on proposals to hike property tax

Although President Christofias has won support to impose a tax of €1,000 a year on profitable companies, no decision has been reached on plans to increase the tax on property.

Cyprus government set to increase property tax

The government of Cyprus is expecting to collect an additional €10 million to €20 million in taxes from property owners in a bill designed to increase state revenues to combat the recession.

Revised property taxes and planning amnesty

The Cyprus government is banking on a second term in office to implement its revised property tax system which will be based on current property values rather than those of 1980.

Ministers to examine property tax in Cyprus

The Cyprus Interior and Finance Ministers are to examine different scenarios for revising property taxes designed to increase the inflow of revenue into state coffers.

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