Latest Headlines

All reports tagged with: "tax"

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.

Call to reform the property tax system

George Strovolides, president of the Cyprus Property Owners’ Association , urged the government to reform the property tax system tax during the association’s annual general meeting.

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.

Paphos developer gets five months behind bars

A property developer in Paphos has been sentenced to five months imprisonment for unpaid tax debts.

Tax hikes to cut budget deficit

The Cyprus Finance Ministry has proposed taxes on banks, companies, properties and basic consumer goods to plug a €150 million hole and keep the budget deficit for 2011 within the limits set by the European Union.

Is a property only worth what someone will pay for it?

An in-depth article by Charles Charalambous in the Cyprus Mail looks at the property transfer tax system and the consequences for property buyers resulting from the Land Registry re-assessing the amount tax payable using its own historical data.

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.

Back to top