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All reports tagged with: "immovable property tax"

Deal reached on Immovable Property Tax

A last minute deal has been reached by Cypriot MPs on the Immovable Property Tax for 2014 and a bill has been passed with 53 votes in favour and just one against according to reports.

Immovable Property Tax up in the air

Following the wrecking of the draft bill to change the Immovable Property Tax rates for 2014, the Inland Revenue Department has suggested that last year’s law be extended for a further year.

New Immovable Property Tax lies

The changes brought about by the new Immovable Property Tax shifts the burden of taxation onto the owners of medium value properties to the benefit of large owners such as property developers.

Immovable Property Tax reductions

Owners of property in Cyprus valued below €200,000 will be exempted from paying Immovable Property Tax under a bill approved by the Council of Ministers yesterday according to a government spokesman.

Cyprus property values updated

Announcing the completion of the task of updating Cyprus property values as part of the island’s bailout agreement, Interior Minister commented that privately owned land in Cyprus is worth some €200 billion.

Immovable Property Tax reform a priority

The government must bring before the Parliament a bill reforming Immovable Property Tax legislation and another one introducing the Guaranteed Minimum Income before the end of June.

Immovable Property Tax will be less in 2014

Owners of property in Cyprus will be asked to pay less Immovable Property Tax this year as many more properties have been included the island’s Interior Minister Socratis Hasikos has stated.

Little progress on Immovable Property Tax debtors

Phileleftheros, the Greek language newspaper, has reported that little progress has been made to collect the €9.6 million Immovable Property Tax plus interest owed by developers and hotels.

Property tax chaos may continue

Although government policy on Immovable Property Tax has not changed, the Inland Revenue has expressed serious doubts as to whether there is sufficient time to complete the work necessary.

Refunding developers’ Immovable Property Tax

Over the past few of weeks we have received literally dozens of emails from people who have received unreasonable demands for Immovable Property Tax (IPT) from their developers.

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