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Immovable Property Tax

The Inland Revenue Department has announced that the immovable property tax for 2013 is due for payment until the 15th of November this year. All companies, organizations or individuals, residing in Cyprus or abroad.

 

The Inland Revenue Department has announced that the immovable property tax for 2013 is due for payment until the 15th of November this year. All companies, organizations or individuals, residing in Cyprus or abroad, who had immovable property registered in their name in Cyprus as on 1/1/2013, are obliged to file a Declaration (IR 303) and pay the resulting Immovable Property Tax (IPT).

The IPT can be paid either by submitting your own declaration (IR303), which is available at the web page http://www.mof.gov.cy/ird, or by presenting the tax bill that will be issued and posted in the next two months. The Inland Revenue is currently in the process of making the option of electronic payment possible. It should be noted that if the IPT is paid by the 15/10/2013 a discount of 10% on the tax paid will be allowed. Any IPT paid after 15/11/2013 will have a 10% penalty plus interest and any other administrative charges imposed by the law.


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