A REVISED tax bill on immovable property, to be finalised in the coming days, will also apply to first domiciles, the interior minister said yesterday.
Socrates Hasikos said that through the new IPT the state intends to collect some €75m in addition to the current projected amount of €29m, to meet fiscal targets.
The minister reiterated that approval of this legislation is one of the conditions that must be met for the first tranche of aid from Cyprus’ international lenders – the troika – to be disbursed.
That first residences are not exempted should be taken for granted, he said.
Hasikos hastened to add that the new tax scheme would not unduly burden homeowners.Read More