Dreaded IPT

[millymolly]

I am dealing with a renowned bad developer in Cyprus. The development isn't finished and because he has not paid his bills much of the equipment has been removed so not a lot works. I have had the keys to my apartment for a few years now and the title deeds are now ready. The developer is trying to charge me over 2000 euros for the IPT which should be more like 200. My solicitor says to just pay it to get them and try and get it back after!! Hell would freeze over before that happened as we will never see or hear from him again!! Some have paid it because they are too scared not to as he is a very threatening man. She also seems to think that we can sue him after but that won't be happening as he is about to go bankrupt. Should I just pay him and get my deeds... it makes me furious as he has not stuck to his side of the bargin and there is about 50k worth of work to be done to make the development looking reasonable at least.

Thanks

Milly

[Nigel Howarth]

Welcome to the forum millymolly.

The developer is trying to charge me over 2000 euros for the IPT which should be more like 200. My solicitor says to just pay it to get them and try and get it back after!! Hell would freeze over before that happened as we will never see or hear from him again!!

I agree, if you just hand over the money, you'll never get any of it back! There's a page on my website that explains how things work at http://www.cyprus-property-buyers.com/law/tax.htm

And it may be wise to speak with a decent lawyer on how best to deal with this 'crook's' demands.

Regards,

[millymolly]

Hi Nigel, thanks for your reply. The advice from my solicitor is to pay. She has contacted the developer and he says today that the cost is so high as most is now going to be called his admin fees... She says that I can't get my deeds unless I pay as he won't back down. Others on the development have had the same issue and have just paid. I am disgusted as this just wouldn't happen in the UK. He tried phoning me and making loose threats that I just laughed at but they were still threats.... which is quite normal for this man. I have already lodged complaints with the police but got no-where. He uses his bullying ways to get what he wants...

Thank you

Milly

[Scots Lad]

I just wish MillyMolly Posts where read out to every parliament in the EU, It justs shows how crooked people can act in a State which does not protect individual home owners.

It should also be read out to the Attorney General & CBA President there weakness allows MillyMollys lawyer to say best pay the developer. Crooked all-ways thrive when Above are weak.

My Advice MillyMolly you gone so far standing up to this Person find out the right price by ways and means if possible get the price then deduct 25% of it and offer it to him and then work to wards the correct price, also take a dis-interested stand with him Greedy people can never understand that stance be abrupt and firm exchange few words.

Hope it works out for you, Many people await the cavalry from the EU finally dealing with these crooks.

[Pantheman]

Question, how did he manage to get title deeds if the development is not finished??? This would ring alarm bells to me.

Do you know for sure the deeds are infact ready?? Have you seen anyones copy??

I mean what if he is just trying to get 2k from each person then split?

[Spondoolies]

What is the maximum percentage IPT a developer can be charged by the Revenue? This is in circumstances where the developer has numerous developments so is at the top end of the scale.

[Nigel Howarth]

Hi Spondoolies

The maximum rate of IPT is €8.00 in every €1,000. This became effective on 1st January this year.

Prior to that date it was €4.00 in every €1,000. This became effective on 1st January 2003.

Prior to 1st January 2003 it was €3.50 in every €1,000. This became effective on 1st January 1990.

Regards,

[Spondoolies]

Thanks Nigel, that was my understanding.

[briano]

Hi

I took possesion of my apartment in Dec. 2008 and have just received a bill from my developer for Immovable Property Tax of €398 euro, Municipality Tax of €434 euro and Sewerage of €235 euro. Total due is €1067 euro. My developer has said that I may be able to claim this back when I get my Title Deeds. I have read the CPAG article on IPT and they said not to pay but my developer has sent me an article from a Lawyer called George Coucounis in Larnaca saying that it is to be paid by the purchaser. I do not know what to do. I have asked my developer when we will get the deeds but he has ignored this question. This is the first bill of this kind that we have received since we purchased the apartment. We pay our quarterly maintenance to the developer with no issues but this has come out of the blue. Can you advise me what to do. I should have said that the property cost approx 87000 Cypriot pounds off plan in Feb. 2006 but only took possesion in Dec. 2008. Also I would like to do the Land Survey Register to see what stage my title deeds are at but I am not in Cyprus to do so and the form says that it can only be filled out in Greek and needs to be handed in with ID, is there any way this can be done from Ireland and I do not want to use my original lawyer as she has a bad reputation going on articles published on this site. Can you reccommend a good english speaking lawyer preferably in Paphos.


Regards
Briano

[andyp]

briano. Sounds like you employed The Stigete.

In my opinion employ a lawyer outside Pafos and you should go to the BHC list for one but that is no guarantee. Good luck.

[Nigel Howarth]

I have read the CPAG article on IPT and they said not to pay but my developer has sent me an article from a Lawyer called George Coucounis in Larnaca saying that it is to be paid by the purchaser.

I suggest that you read the CPAG article again. It does not say that you should not pay IPT but that you should pay once you have information from the developer confirming that he has paid the tax and other information that will enable you to reclaim any overpayments from the Inland Revenue when the deeds are issued.

For more information see http://www.cyprus-property-buyers.com/law/tax.htm

Regards,