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State to reimburse early IPT payers

People who settled their immovable property tax before parliament approved a higher discount for early payment will be receiving cheques with the balance, a tax official said on Friday.

Klelia Papadopoulou said IPT notices were being sent out on Friday, attributing the delay on late deliberations in parliament that led to a higher discount for those paying early.

The original government bill set the payment deadline on November 30 and offered an early settlement discount of 15 per cent and 17.5 per cent if paid through a bank or online.

However, parliament decided on Thursday to extend the deadline to the end of December and increase the discount to 17.5 per cent for payments made by the end of November — 20 per cent if paid online or through a bank

People who have already paid their IPT and received the lower discount will receive a cheque returning the extra money, Papadopoulou said.

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