Cyprus Parliament has officially stated that the cadastre of the country's property does not have specific information about who owns 250,000 of real estate on the island, according to ee24.com with reference to the portal Cyprus Property News.
And although the IMF is happy with the way the country is implementing a program of economic recovery, the leaders of the EU and the ECB will be unpleasantly surprised by such a deplorable situation in the taxation of real estate. After all, the lack of information about the owners makes it impossible to collect the tax from that property. Director of the Tax Department of Cyprus claims that the problem has been known for a long time, but emerged only now.
In a country with a population of less than a million the inability to identify the owners of 250,000 objects looks at least strange. It is assumed that approximately 50,000 units of real estate were purchased by non-residents. And there are still 200,000 objects that need to be re-registered and to taxed. And this is despite the fact that unregistered facilities and real estate without a building permit were not taken into account at all.