Cyprus Property Tax for 2015 – Announcement

The Tax Department of the Republic of Cyprus has issued a press release regarding the payment of tax on real estate for 2015.

Who has to pay tax on property in Cyprus?

Those who on the 01.01.2015:

  • had real estate registered in their name or;
  • had acquired real estate with a purchase/concession agreement (even if the property was not registered on their name) or;
  • had real estate with lease agreement, which had been submitted to the Land Registry.
  • AND the purchase value of the property exceeded the amount of €12 500 on the 01.01.1980.

Payment Deadline: 31.12.2015.

Discount for the payments taking place before the 01.12.2015:

  • 20% for the payments carried out electronically and at the Banks;
  • 17,5% for the payments at the District Tax Offices.

Penalties for late payments (after the deadline – 31.12.2015):

  • 10% on the payable tax, interest and fines as provided by the Law.

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