Owners of property in Cyprus who pay an annual property tax for 2013 to August 31 will be able to save. The government has decided to allow such taxpayers a 10 percent discount. Those who make the payment after September 30 will be debtors and have to pay for delay in 10% of the tax liability, according to the portal Cyprus Property News.
Discount appeared after revising tax law in May 2013. Now the owners of property in Cyprus have to pay tax on all real property registered in their name. The minimum payment is €75. The calculation is a percentage of the value of real estate in 1980. Read more about it here - ee24.com.