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Cyprus

State collects over €30m in IPT

The state has so far put some €31.6m in its coffers from immovable property tax (IPT), as the rate of compliance touched 91 per cent, it was announced on Thursday.

According to the tax department, 91.2 per cent of individual taxpayers and 80.35 per cent of the companies had settled their IPT in 2016.

Out of 278,061 taxpayers, 252,072 had paid their bills as of December 31. The state collected around €31.6m.

The outstanding amount was €3.7m, which did not include late fees and interest.

Some €19.9m were paid by 240,081 individuals. Companies paid around €11.6m with the rate of compliance slightly over 80 per cent, or 11,271 out of 14,027.

 

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