IMMOVABLE PROPERTY TAX (IPT) DISCOUNT
The Cyprus government announced officially on Thursday, 17th September 2015 the amount of the discounts that will apply to those who pay their Immovable Property Tax (IPT) by 30th November 2015. They are as follows:
a) If paid online, or through the bank, by 30th November 2015 a 20% discount will be given.
b) If paid in person at the tax office by 30th November 2015 the discount will be 17.5%.
c) There will be a penalty attached to any payment made after 30th November 2015.
There has been a recent announcement by the Cyprus government that there will soon be an increase in the amount of discount given to those who pay their IPT early (before 31st October 2015).
The discounts will apply as follows:
a) Payments made either online or through the bank before 31st October 2015 will have a 17.5% discount.
b) Payments made in person at the tax office before 31st October 2015 will have a 15% discount.
c) No discount from 1st November 2015 – 30th November 2015.
d) If the IPT is not paid by 30 November 2015 penalties will be imposed from 1st December 2015.
As there are approximately 6 weeks in front of us before the discounts end on 31st October 2015 it doesn’t hurt to wait a little – until the official announcement of the date that the increased discounts will apply – in order to take advantage of this offer.