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Improvement in Cyprus direct tax revenues

There are signs that the Cyprus government’s efforts to avoid the island’s budget deficit exceeding 3% of its GDP, which would result in EU Supervision, are bearing fruit with Immovable Property Tax collections almost doubling during September.

Illegal tourist rentals in Cyprus

Official figures reveal that one third of all tourists arriving in Cyprus stay in unlicensed holiday accommodation. The situation is exacerbated by developers who promote their villas and apartments as being suitable for ‘buy to let’ holiday homes.

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