Cyprus Property Forum for Buyers, Sellers & Investors

Hello Nigel,,just a point of interest...We have just been to pay our I P Tax (for three properties)and they said there was NO discount for early payment,so we had to pay the full amount..

Terry Liversidge

Hi Terry,

You've been stung - here's the announcement from the Inland Revenue Department:

• IMMOVABLE PROPERTY TAX
  The Inland Revenue Department wishes to announce that the immovable property tax for 2013 is due for payment until the 15th of November this year.
  
  All companies, organizations or individuals, residing in Cyprus or abroad, who had immovable property registered in their name in Cyprus as on 1/1/2013, are obliged to file a Declaration (IR 303) and pay the resulting Immovable Property Tax (IPT).
  
  The IPT can be paid either by submitting your own declaration (IR303), which is available at the web page http://www.mof.gov.cy/ird, or by presenting the tax bill that will be issued and posted in the next two months.
  
  The Inland Revenue is currently in the process of making the option of electronic payment possible. An announcement will be made in due course.
  
  The Inland Revenue Department would like to bring to your attention that if the IPT is paid by the 15/10/2013 a discount of 10% on the tax paid will be allowed.
  
  Any IPT paid after 15/11/2013 will have a 10% penalty plus interest and any other administrative charges imposed by the law.
  
  For further information please refer to the immovable property tax section at the district Inland Revenue offices where your tax file is kept.

Regards,