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Property tax set to increase

Property taxes in Cyprus are set to rise following the submission of a bill to parliament earlier today by the government designed to raise an additional €29 million/annum in state revenues.
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Developers oppose new property tax

Government proposals to introduce a tax on large houses and the troika proposal to accelerate foreclosures have been met with opposition from the Cyprus developers association.
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Property tax incentive extended

Designed to stimulate growth in the island's beleaguered property market, tax incentives introduced in December 2011 for those purchasing new homes may now be extended until the end of 2013.
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Christofias says no to transfer fee changes

The euphoria felt by property developers in Cyprus that the House of Representatives had agreed unanimously to abolish or reduce Property Transfer Fees for a period of six months may be short-lived as President Christofias has asked them to think again.
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No decision on proposals to hike property tax

Although President Christofias has won support to impose a tax of €1,000 a year on profitable companies, no decision has been reached on plans to increase the tax on property.
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Cyprus government set to increase property tax

The government of Cyprus is expecting to collect an additional €10 million to €20 million in taxes from property owners in a bill designed to increase state revenues to combat the recession.
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Revised property taxes and planning amnesty

The Cyprus government is banking on a second term in office to implement its revised property tax system which will be based on current property values rather than those of 1980.
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Ministers to examine property tax in Cyprus

The Cyprus Interior and Finance Ministers are to examine different scenarios for revising property taxes designed to increase the inflow of revenue into state coffers.
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CPAG update on transfer taxes and IPT

Earlier today CPAG, the Cyprus Property Action Group, issued an update regarding transfer taxes (Property Transfer Fees) and IPT (Immovable Property Tax)
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Cyprus hotel and tourist associations oppose taxes

The Association of Cyprus Tourist Enterprises, STEK, and the Cyprus Hotel Association, PASYXE, are the latest groups to announce their opposition to the governments’ proposals on property tax.
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Cyprus ministers confirm property tax plan

Following their meeting earlier today, the Cyprus Finance and Interior Ministers have confirmed the government plans for its proposed reappraisal of the Island's property tax system.
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Taxing meeting for Cyprus ministers

The Interior and Finance Ministers of Cyprus are meeting today to discuss the technical issues involved in implementing the recently announced proposals for reassessing the Island’s property tax rates.
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Cyprus property tax hike attacked

The Cyprus Democratic Rally Party’s Vice President, Averof Neophytou, has attacked the proposed tax hike on property calling it a tax raid by the government on 90% of Cypriot citizens.
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Tax revenues slump, deficit increases

According to reports, Cyprus tax revenues slumped during January - November 2009 and the fiscal deficit increased to more than 3% of the island's Gross Domestic Product, which means total losses during the period exceed €500 million.
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Fall in tax revenue attributed to Cyprus property market collapse

The drop in Cyprus tax revenue collections is entirely attributable to the collapse of the property market and it raises concerns that if foreign demand fails to recover, the government will lose a significant source of revenue permanently.
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Cyprus government urged to cut property taxes

The government of Cyprus has been urged to cut property taxes by the Land and Building Developers Association to help breath some life into the island’s beleaguered real estate market.
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Cyprus developer rejects accusations

The Cyprus property developer Aristo has rejected accusations that it is one of the offenders involved in the Immovable Property Tax scam.
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Property tax revenues crash

The amount of Capital Gains Tax collected, the majority of which results from the sale of property, crashed to just €15.1 million from the €90.1 million collected during the same period last year; a drop of more than €75 million
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Property tax revenues crash

The Cyprus Government coffers are in dire trouble as a result of the crash in property sales which has caused Capital Gains Tax receipts to plummet by more than 83%.
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Tax revenues plummet as property boom ends

THE Cyprus Inland Revenue Department has released details of total tax revenues collected during the first 5 months of...
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