Cyprus Mail
Cyprus

Nearly three quarters have paid their IPT before deadline

Immovable property tax (IPT) has been paid by some 72 per cent of taxpayers who benefited from the 20 per cent discount for those who settled their dues before the end of this month, it emerged on Friday.

The tax department said it had collected €55.5m, or 56 per cent of the amount it expected to put in the state coffers. It is understood that the figure included tax paid in the first two weeks of November.

Senior tax officer Klelia Papadopoulou said 193,833 taxpayers had paid their dues out of a total of 268,916.

The figure includes 50 per cent of homeowners whose properties were in the high tax scale.

In respective lower- scale figure was between 60 per cent and 70 per cent.

Total IPT was estimated at €127m not including the 20 per cent discount afforded to those who pay by the end of November. With the discount, the state expects to collect around €102m.

The discount is given to people who pay by the end of November either online or through a bank. The discount for paying directly at the tax office is 17.5 per cent.

There will be no discount in December and a 10 per cent penalty will be added on the tax due for those missing the December 31 deadline.

Papadopoulou expected the amount two rise by the end of November as it was usual for most people to wait until the last moment, especially businesses who had larger amounts to pay.

 

 



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