NEWS

• Posted September 08, 2014

SEPTEMBER 2014 - CYPRUS TAX NEWS

Immovable property tax for 2014

We would like to remind you that the immovable property tax for 2014 should be settled by 30 November 2014.

Taxpayers who settle the immovable property tax by 31 October 2014 will benefit from 15% discount on the tax due. However in case of a delay in settlement of the immovable property tax (i.e. after 30 November 2014) additional charge of 10%, plus interest and penalties will be imposed on the tax due.

The immovable property tax is calculated on the value of the properties as at 1 January 1980 which are owned by a taxpayer as at 1 January each year and the bands and rates for 2014 remain the same as in the tax year 2013.

In case you need our assistance for the preparation and submission of the relevant forms and the payment of the tax due, please contact us at [email protected].