Property owners in Cyprus must pay taxes before October 16 to receive a 10% discount
A tax official has said property owners will receive a notice by September 15 to pay their property tax imposed as part of the bailout package agreed with international lenders.
Liana Charalambous, an Internal Revenue service officer, said that notices concerning large properties have already been sent by post.
She said property owners can benefit from a 10 percent discount if dues are paid by October 16th. Those who pay after November 15 will not be eligible for the discount.
Tax payers can pay either at the IRS tills or electronically by citing a reference number attached to the payment notice.
Properties belonging to the same owner will be considered as a whole and tax will be imposed on their total value.
Tax estimates for this year are based on 1980 values of properties while as of next year a new evaluation will be made based on the current value of properties.
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