New property sales tax to support refugees
Real Estate
Tuesday, 16 February, 2021
The parliament approved this week a new levy of 0.4% will be imposed on all property sales in order to support Greek-Cypriot refugees.
According to the new law, the tax will be on any sale/transfer of real estate, the levy will be payable by the seller and the funds will be distributed to the support the refuges through various Governmental Schemes.
Author: Christos Nikolaou
BEng Mechanical Engineering, MSc Real Estate, ETEK Property Valuer, Register and Licensed Real Estate Agent.
Christos Nikolaou is the founder and Managing Director of Property Canvas, he holds a license as an Estate Agent from the Association of Real Estate Agents of Cyprus and he is a registered Property Valuer in the Technical and Scientific Chamber of Cyprus (ETEK). He is the author of our “New property sales tax to support refugees” and is a certified advance negotiator.