Cyprus Mail
Cyprus

Pressure to mount on those with IPT arrears

No one will be spared from paying the full amount due on immovable property tax (IPT) as well as any penalties for delayed payment, interior minister Socrates Hasikos said on Monday.

“Rest assured that all debtors, large and small, who owe tax will pay, and with the penalties provided by law,” Hasikos told reporters.

He was being quizzed about the government’s thoughts on IPT arrears, shortly after his colleague the finance minister had handed parliament a list of the top 50 tax debtors.

Hasikos said IPT debtors have been tracked down and pressure is being brought to bear on them to pay up.
But he added that a proportion of large debtors who failed to settle last year have also not paid up so far this year as well.

Property owners have until April 25 to appeal the government’s valuation of their real estate and correct any other mistakes made in the process of fixing IPT.

The three-month extension – the previous deadline was end of January 2015 – was approved in a law passed last November by the House plenum.

Owners can file an appeal by paying a fee that depends on the value of their property.

The new 2013 property values have been published on the land registry’s website. These new values will be used for accessing and paying IPT from 2015. For 2014, IPT was assessed using the old 1980 valuation.

Authorities have received thousands of complaints from people about errors made in the new valuations.

 

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