Immovable Property Tax
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Tax is imposed on the immovable property’s owner (individuals and/or legal persons) in Cyprus, at the 1 January of every year. The tax is calculated based on the market value of the immovable property as of 1 January 1980 and it is payable by the 30 September of the year.
|Value of Property ₤||Rate %||Tax ₤||Accumulated Tax ₤|
|Value per Plot ₤||Rate %||Fees ₤||Accumulated Fees ₤|
Inheritance tax has been abolished on 1 January 2000. The executor of the estate should submit the deceased’s statement of assets and liabilities to the tax authorities, within six month from the date of death.