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All reports tagged with: "tax"

Rich foreigners being fleeced over local taxes

The practice of councils fleecing foreigners continues despite a conclusion by the ombudswoman in her 2011 report that there was a prima facie issue of a possible indirect (covert) discrimination against them on the grounds of nationality/citizenship.

Real estate roundup

New housing loans from the Bank of Cyprus, progress on Immovable Property Tax collection and a World Cup probe into a land deal involving a member of FIFA’s executive committee.

UK tax man targets offshore bank account holders

A nationwide HMRC programme is tracking down UK taxpayers with offshore bank accounts in Cyprus and pursuing them for unpaid taxes on the interest earned on their capital.

UK tax axe falls on overseas property investors

HM Revenue & Customs has set up a team of investigators to track down UK-based individuals who are letting out property in Cyprus and other countries without declaring its rental income.

EU to investigate community tax discrimination claims

British expatriates who are outraged at paying higher taxes than their Cypriot friends and neighbours living in their Community at Kouklia, a village some 10 miles south of Paphos, are taking their case of alleged discrimination to Europe.

Community taxes discriminatory to foreigners?

An article appeared in today’s Cyprus Mail concerning excessive taxes being levied by a Community (a local government authority) on foreigners with property; a practice that the Island’s Commissioner concludes may be discriminatory.

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.

This legalised theft must end

When is the Government of Cyprus going to change the laws that force those who have been scammed by their developer to pick up his bills or face losing their homes?

Property prices may stabilise in 2011

The vice president of the Cyprus Association of Valuers and Property Consultants believes that property prices may stabilise in 2011 following falls over the past two years.

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