THE VAST majority of property owners paid their immoveable property tax (IPT) before Tuesday’s deadline when the special 10 per cent discount offer expires.
According to reports, by lunchtime Tuesday the Internal Revenue Department collected around €93 million in payments for IPT, representing 207,000 property owners.
A tax official told state broadcaster CyBC that the number of IPT forms returned counts for 87 per cent of the total number (236,000) sent out.
At midnight Tuesday, the extended deadline for a 10 per cent discount on the tax expires. The remaining property owners have until November 15, 2013, to pay the full amount owed. Those who miss the official deadline will incur penalties.