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19th April 2024
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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.
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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.
News

Bill to extend Immovable Property Tax deadline

It is anticipated that the deadline for paying Immovable Property Tax will be extended to allow the authorities sufficient time to print, file and send registered property owners tax demands.
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Home buyers may pay IPT before getting Title Deeds

A Cypriot MP has tabled a bill for discussion at the House Finance Committee requiring property buyers to pay Immovable Property Tax even though they do not have the Title Deeds to the property they have purchased.
News

Race to revalue half a million properties

The race is on to complete the revaluation of some 500,000 properties island-wide by the end of June 2014 to meet one of the bailout conditions agreed with Cyprus' international lenders last month.
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Property tax legislation has utmost priority

A bill on Immovable Property Tax, a prerequisite for the payment of the first instalment of the Cyprus bailout, is being drafted and will be placed before parliament as soon as possible.
News

Government scraps property tax bill

The Cyprus Interior Minister, Socrates Hasikos, has announced that plans drawn up under the Christofias administration which aimed to raise €180 million by increasing Immovable Property Tax have been scrapped, for now.
News

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.

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