For every sale of your Cyprus Property, the seller/s must submit to the Cyprus Tax office their capital gains tax forms, even if no profit will be made in order to receive the Tax Report as this is needed at the land Registry in order to be able to transfer immovable property and to complete the sale. Capital Gains tax is always paid by the seller and is always paid before the Tax Report being granted by the tax office.

Any Cyprus Capital Gains is liable to be taxed at the rate of 20%.

 

Expenses that can be deducted from your Cyprus Property Capital Gain Tax

  1. Additions and improvements to the Cyprus property (only with official receipts).
  2. Land Registry transfer fees (specifically for the Cyprus property).
  3. Stamp duty paid to the Cyprus Government specifically for the Cyprus property
  4. Estate agent’s commission to Registered estate agents for the specific sale of the Cyprus Property
  5. Legal Fees for the specific sale of the Cyprus Property.
  6. Immovable Property Tax.

 

The below tax deductions are granted once in a lifetime

  1. Up to €85,430 if the disposal relates to a private residence.
  2. Up to €25,629 if the disposal is made by a farmer and it relates to agricultural land.
  3. Up to €17,086 on any other disposal.
01Aug 2015

Заявка в Совет Министров Кипра для Покупки Кипрской Недвижимости Теперь для Вас Легко и Просто! Знаете ли Вы, что хоть Кипр и является теперь частью ЕС, любой человек, не имеющий Кипрского гражданства, считается иностранцем? И как результат, Заявка в Совет Министров Кипра является обязательной процедурой для тех, кто желает приобрести недвижимое имущество на Кипре. Вы […]

07Aug 2015

For all our clients, existing and new we are offering a special price on our wills.   We will draft “new wills” (for you and your spouse) for the special price of €150 (One Hundred and Fifty Euros) including VAT Plus the stamps (18 Euros per will)   If you would like to take advantage […]

12Oct 2015

NEW AMENDMENT LEGISLATION (ART.10/ 2015) WHICH AMENDS THE LAWS ON THE TRANSFER AND MORTGAGE OF PROPERTY LAWS OF 1965 The new legislation which amends the outdated laws on the transfer of property and mortgaging law of 1965 has been voted unanimously from all the members of the Cyprus Parliament as of the 3rd of September […]

12Oct 2015

The formation of the Cyprus –Iran Business Association The Cyprus Chambers of Commerce and Industry in its continuing efforts to promote trade and relationships between Cyprus and other countries, has recently announced the formation of the Cyprus Iran Business Association. The Cyprus Iran Business Association will operate under the auspices of the Chambers of commerce. […]

12Oct 2015

Seldemosa A case, of vital importance to all purchasers of property in Cyprus. It is essential that all owners of immovable property know and understand not only their obligations but also their legal rights as owners of immovable property in Cyprus. Recently, G KOUZALIS LLC had a profound victory in the lawsuit with action number […]