Immovable Property Tax refunds on their way

FOLLOWING the changes to the Immovable Property Tax law that removed the €75 minimum payment, I received many emails from those who had already paid asking how to apply for a refund.

I have some good news for them and everyone else who overpaid – the Inland Revenue Department has started to issue refunds.

I have already received emails from several people living in Paphos and Larnaca who have received cheques as the 1980 value of their property(ies) fell below the €12,500 threshold at which the tax became payable following changes to the law that were implemented on 17th October 2013.

Time to hit the January sales!