Cyprus Property Forum for Buyers, Sellers & Investors

Hello Nigel, I have completed form 318A with as much information as I can. The Developer has ignored all my emails!

Please can you advise, the property is in joint names, do we put the full 1980 value on each of our forms or half the value? also the valuation I have is in CYP do I convert this to EU or let the Tax Office do the conversion.

Thank you

Gail

Hi Gail and welcome to the forum.

As the property was purchased in joint names, you each need to complete the required forms. Put the total 1980 value in the relevant column and enter 50% in the land and building columns – explain the situation at the tax office.

To convert CYP to Euro, divide the CYP figure by the official conversion rate 0.585274. I don't understand - if the developer is being uncooperative and you do not have the deed, what does the CYP figure relate to?

Please refer to my article at http://www.news.cyprus-property-buyers. ... id=0039392

Regards,

Hi Nigel

Thanks for the information.

In answer to your question, with my contract of sale I have copies of plans, and what looks like a copy of Title Deed in the Developers name, I have used the translation details you referred someone else to. We have been told our Title Deeds are not ready yet.

Regards
Gail

Hi Gail

I expect the deeds you have relate to the land for the whole development (you can check by looking at the size of the plot).

There's no need to mention this in your IPT submission.

Regards,

Hi Nigel

Thanks for the advice.

Regards
Gail