Cyprus Property Forum for Buyers, Sellers & Investors

Hi Nigel

I have read your article on the above but just wanted to double check something please?

I am about to get me deeds finally and have the bill from the developer and know that I can claim back the IPT. I have read your process - my questions are:

1. Does someone have to go in person to the Inland Revenue or can the refund be applied for by post? I ask as if in person I will need to use my solicitor?

2. If I do use my solicitor does this give me any protection that the amount the developer is charging is correct? Do they have the obligation to check and follow your process etc?

Many thanks

Hi cherrink

There is no sure way to check what the developer is charging you is correct until after the Title Deed for the property you have bought has been issued. But you can get a very good idea if the developer supplies you will the information needed to make a claim.

(If your deed has been issued, the 1980 valuation is shown and you will not be able to claim back from the Inland Revenue any more than €4.00 for every €1,000 of the valuation).

Unfortunately, the Inland Revenue can make a mistake when calculating the IPT paid by the developer and this is money he will have paid on your behalf, but I am afraid, that you will not be able to reclaim it.

You do not need a lawyer to help, but I would take the completed application to the Inland Revenue personally to avoid it getting 'lost' in the post.

Regards,