On 27th October 2022, the law establishing the obligation to pay 0.4% tax on all sales of immovable property and shares of the company with the fees paid from the tax imposition to financially support Greek Cypriot refuges.

Thus, amending the provisions of the Central Agency for Equal Distribution of Burdens (Creation, Objects, Responsibilities and other related matters) Law and such obligation applies for every real estate deals or commercial sale of shares.

To supplement the above, in accordance with the new amendment to the law, all transfers and sales of immovable property and/or shares of a company which are not listed on any rec

ognized Stock Exchange and that directly or indirectly has in its possession immovable property, a tax of 0.4% will be paid by the seller of the property or shareholder.