Cyprus Property Forum for Buyers, Sellers & Investors

As of Monday 21/11/2022, the Land registry will no longer accept transfers without the new tax being paid.

The tax was vote into force on the 1/2/2021, but was never implemented as the tax office was; a. not set up to collect it, and b. no one knew what to do.

The tax is called the equal burden tax supposedly to collect money for the 1974 refugees. Personally, it is just a stealth tax to fill the coffers of the state.

It is levied at 0.4% of the selling price and is paid by the seller.

So, you need to consider this extra cost in your final selling price.

Oh, and the irony of this is that the state thinks it can collect back tax from the 1/2/21!!

You can read more about this stealth tax at Property tax law to help refugees corrected.

Cheers,

what out tax consultant said is, that the developers are crying a lot about this. They always knew, they had to pay that tax, never did and now they owe the state millions. My pity is limited for them.

Tax dodging is a national sport!

Headline in the Financial Mirror today Homeowners cheated state of €16.2 mln VAT.

There was a report in 2017 Immovable Property Tax unpaid.

In 2016 Immovable property tax dodgers

In 2015 Unpaid Immovable Property Tax from 32 developers.

Etc.

To be honest, everyone who is not cheating and dodging is the stupid one. I am glad that they start to press what is owned out of those people. It was mainly the work of developers, to cheat - and on top of that they ruined every nice spot of the island with they greed. I hope, they get a good cleaning.

There is no "stealth" in the tax per se. Never was btw.