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CGT allowances - Main residence exemptions
Posted: 26 Jul 2024 08:11
by Krissk
Hello, have read the very comprehensive article on CGT:
https://www.news.cyprus-property-buyers ... s/id=00149
Re: CGT allowances - Main residence exemptions
Posted: 26 Jul 2024 08:25
by Nigel Howarth
Hi Krissk
The seller is going to run into problems!
As soon as you become resident in Cyprus (MEU1) you are required to register with the Tax Department at which point your worldwide income taxable in Cyprus.
But the vendor is a non tax resident in Cyprus and has been avoiding tax.
The authorities take a dim view of this!!!
Regards,