Cyprus Property News for home buyers & real estate investors in Cyprus

3rd December 2021
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Property tax dodgers discovered

Thousands of properties in Cyprus that have not been declared to the property Tax Department have been discovered during a revaluation exercise by the Department of Lands and Surveys according to the island's Interior Minister.

Developers call for tax changes

Property developers have requested a change to property tax legislation voted by the House last year to avoid the injustices that occurred, CEO of Aristo Developers Theodoros Aristodemou said.

Property tax review gets underway

The government has appointed the accounting firm of PricewaterhouseCoopers to advise on the administration and consolidation of the various property taxes; the work should be completed in 3 months.

Immovable Property Tax vote set for Thursday

Having debated changes to Immovable Property Tax for more than a month, it is expected that MPs will vote on the various proposals to amend the law at a Plenary session of parliament on Thursday.

Immovable Property Tax debacle continues

No sooner had the Council of Ministers agreed changes to the Immovable Property Tax rates for 2013 when AKEL stepped in demanding that first residences should be exempted from this tax.

Cabinet modifies Immovable Property Tax charges

At a meeting in Troodos yesterday, the cabinet decided that those with properties whose 1980 value is €5,000 or less will be exempt from paying IPT and scrapped the €75 minimum charge.

Immovable Property Tax demands by post

The Inland Revenue Department has started to send out Immovable Property Tax demands by post and all property owners will receive a notice by 15 September a tax official has said.

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