Cyprus Mail
Cyprus

Semi-state employee files appeal against new IPT

AN EMPLOYEE of a semi-state organisation who owns several properties has filed an appeal against the immovable property tax (IPT) introduced by the state this year as part of the island’s bailout agreement with international lenders, it emerged yesterday.

The appeal, the first against the IPT introduced by the cash-strapped state in a bid to shore up its finances, hinges on various articles of the constitution and the European Convention on Human Rights.

Among others, the plaintiff cites Article 24, which states that every person is bound to contribute according to their means towards the public burdens, Article 9, on the right to a decent existence, and Article 28, entitlement to equal protection and treatment.

He does however raise a point that is bound to keep emerging in coming days: the fact that he – and a lot of other people — also pays immovable property tax to municipal authorities.

The government expects to collect between €105 million and €110 million from IPT this year – around €30 million more than the initial projected amount.

The deadline for paying IPT is November 15; any IPT paid after this date will result in a 10 per cent penalty plus interest and any other administrative charges imposed by the law.

As an incentive for prompt settlement, a discount of 10 per cent is given if IPT is paid by October 15.

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