NEARLY 90 per cent of property owners had paid their Immovable Property Tax (IPT) before yesterday’s deadline when the 10 per cent discount offer expired.
A tax official who spoke to the CyBC said that of the 236,000 Immovable Property Tax forms sent out, 87 per cent (approximately 207,000) had been returned; roughly €93 million in payments had been collected.
The 10 per cent discount period has now expired and remaining registered owners have until the 15th November 2013 to pay the full amount they owe.
Registered owners who delay paying their IPT until after the 15th November will face a 10 per cent penalty on the tax they owe – plus a pro-rata 4.75 per cent annual interest rate.
Inland Revenue help lines
The Inland Revenue has a number of help lines for those with Immovable Property Tax queries: