0.4 Tax on the real estate sales and sales of shares
- Symeon Pogosian LLC
- Feb 6, 2023
- 1 min read
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.
This post sheds light on a crucial update in Cyprus’s real estate landscape—one that every investor and property owner should be aware of. The 0.4% tax on immovable property and share transfers not only supports a meaningful cause but also underscores the importance of transparency in property transactions. For those looking to buy apartments in Cyprus, understanding these legal nuances is key to making informed decisions. At Learnician, we provide expert guidance and curated listings to help you secure your property in Cyprus with confidence and clarity.