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All reports tagged with: "troika"

Transfer fee penalty for delays

The government is considering a change in the law that will impose a penalty of a 10 per cent increase in the Property Transfer Fees payable for buyers who delay depositing their contract of sale.

Restrictive measures road map unveiled

The restrictive measures on the movement of capital that Cyprus introduced in March could remain in place for a year or two and will only be removed gradually to safeguard financial stability.

Revised property tax bill vote

The House plenum will vote today on an amended bill to increase the rate of Immovable Property Tax, which was part of the preliminary agreement between Cyprus and its international lenders.

Property tax bill about-turn

Following representations from hoteliers, property developers and others the government is rethinking its property tax bill which aimed to raise €180 million; €120 million more than suggested by the troika.

Cyprus bailout terms call for title deed delay reduction

Will a reduction in the backlog of Title Deeds to less than 2,000 of cases pending for more than one year, as required by Cyprus’ bailout terms, resolve the Title Deed problem once and for all?

Developers unhappy with property tax changes

The Land and Building Developers Association has warned that the new property tax regime agreed as part of the island’s bailout conditions will threaten prospects for the sector’s recovery.

Problems will continue after property tax shakeup

Significant changes to the way Immovable Property Tax is to be calculated are contained in the island’s bailout conditions bringing to an end the use of 1980 values but leaving some problems unsolved.

Cyprus draft bailout conditions leaked

The draft MoU between the government and the Troika is in the public domain. We summarise the specific points in the Memorandum of Understanding relating to the housing market and immovable property regulation & taxation.

Five proposals for property taxation

Lakis Tofarides has called on the government to rethink the tax reform proposals it has submitted to the Troika as he believes they will be catastrophic for the island’s real estate sector and will lead to further unemployment.

Vanishing Cyprus: banks bailout – the big lie!

One day, it may be necessary for Cyprus to pull out of the euro to regain its social and economic independence as the “one-size-fits-all” policy has not worked for most EU member states.

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