Prop­erty tax set at 25% of 1980 prices

Financial Mirror (Cyprus) - - FRONT PAGE -

Par­lia­ment has ap­proved a pro­posal that the prop­erty tax for 2016 will be at 25% of the tax­able payable amount cal­cu­lated based on the ap­pli­ca­ble rates and the price of the prop­erty in 1980.

Pay­ments will be re­ceived up to Oc­to­ber 31, and if the pay­ment is made be­tween Novem­ber 1 and De­cem­ber 31 the rate will be higher, at 27.5%.

If the pay­ment is made af­ter De­cem­ber 31 there will be a 10% sur­charge on the price cal­cu­lated on Novem­ber 1 and De­cem­ber 31.

Par­lia­ment also ap­proved a pro­posal for the com­plete abo­li­tion of the prop­erty tax in 2017.

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