July 2016

In an announcement published earlier today the Cyprus Finance Ministry advised that it has lifted the temporary 50 per cent reduction in Property Transfer Fees for transfers that take place by 31st December 2016

The Cyprus parliament has agreed that Immovable Property Tax (IPT) for 2016 will be based on 1980 values but reduced by 75 per cent on the amount paid last year.

IPT will be abolished in THE YEAR 2017!