A bill has been introduced in parliament to exempt low value propetry owners from the new property taxation imposed as part of a bailout agreement with the troika.

The director of the internal revenue department, George Poufos, called on the House to endorse an amendement bill exempting owners of property valued up to 5.000 euros from a uniform 75-euro tax liability.

Poufos warned that passing the amendment clause introduced by AKEL party would lead to the loss of income totalling €20 million euros.

He said that only about 15 million euros has been collected to date, from a total estimated at 139 million euros.

Property owners who will pay their tax up to the 15th of October will get a 10 percent discount.

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