Immovable Property Tax Reduction of Over 70% in 2016

17:37 - 15 Ιουλίου 2016

GoldNews
The plenary of the House of Representatives voted on July 14 to reduce immovable property tax between 72.5% and 75% for 2016 and to abolish it from 2017 onward, Cyprus News Agency reports.
The legislation passed by a majority vote of 29 for, 18 against and 5 abstentions.
 
In particular MPs voted for a legislative proposal jointly submitted by ruling part DISY and opposition parties DIKO, social democratic EDEK and the Solidarity Movement which stipulates that the payable immovable property tax from 2016 will be at 25% of the amount calculated with the existing provisions in place, that is to say its value on January 1st, 1980 provided that it is paid until October 31st 2016.
 
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