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Money Off Your Immovable Property Tax in Cyprus

Posted on July 15, 2013

UNDER the provisions of the revised Immovable Property Tax Law (No. 24/1980) all owners of property in Cyprus are now liable to pay an annual tax to the Inland Revenue based on the total 1980 value of all immovable property registered in their name; the minimum payment is €75. The revised law, which was introduced in May, is designed to achieve one of the bailout conditions that Cyprus agreed with its international lenders, i.e. to ensure that a further €75 million is collected by the state from property taxation.

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Copyright © Cyprus Property News and a very special thank you to Nigel Howarth for providing such informative news.

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