15% tax on property sales from 2018

3 Replies

I have been advised by a Cypriot resident that there will be a tax of 15% on property sales from next year, Can anyone confirm this? 

Replies

Nigel Howarth 1513062977

There have always been taxes on property sales:

Capital Gains Tax charged on the gain you make from the sale at 20% (adjusted by inflation and allowances).

Property Transfer Fees paid by the purchaser on a sliding scale (discounts apply at this time.)

From 2nd January 2018 VAT at the rate of 19% will be applied to the sale of building land. We still don't know the details - the Regulations will be discussed by MPs this week.

I have heard nothing about a 20% tax.

Regards

Nigel

Nigel Howarth 1513069910

That should have read "I've heard nothing about a 15% tax".

Rgds

Nigel


jamsg-662390 1513859769

Thanks for your info Nigel

Best regards

Jim

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