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?
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.
That should have read "I've heard nothing about a 15% tax".
Thanks for your info Nigel