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Cypriot Tax Break For Early Payment Of Real Estate Tax

by Ulrika Lomas, Tax-News.com, Brussels

29 September 2014


The Cyprus International Financial Services Association has highlighted that those paying the Government their immovably property tax dues before October 31, 2014, ahead of the November 30, 2014, deadline, will receive a 15 percent discount.

Cyprus's tax on immovably property (IPT) is due in respect of any property valued in 1980 to be worth more than EUR12,500 (USD15,850 (2014)), with progressive rates ranging from 0.6 percent to 1.9 percent on properties valued over EUR3m.

Any IPT paid after November 30, 2014, will be subject to a ten percent penalty, plus interest and any other administrative charges.

TAGS: tax | property tax | interest | international financial centres (IFC) | Cyprus | Tax

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