The Annual Immovable Property Tax Imposed By The Government Is Approximately CY60- 120 Per Year

Category: Finance.

The annual immovable property tax imposed by the government is approximately CY60- 120 per year.

Common expenses are usually paid monthly or quarterly in advance. The municipal authorities also levy an annual property tax of CY20- 30 per year and other authorities may also require CY20- 40 sewage tax. They vary from development to development and depend on the area and type of property. The estimated total is in the region of CY150 to CY300 per year. They cover an owner s share of the cost of cleaning and maintaining common areas and gardens, electricity in common, swimming pool expenses areas, rubbish collection and, management fees repairs. The relatively low cost of living in Cyprus is definitely one of the advantages that appeals to the potential buyer.

In fact, recent statistics pointed to Cyprus as being one of the most inexpensive countries in Europe. The island offers a full but comparatively inexpensive lifestyle. The local markets flaunt a wealth of colourful fresh fruit and vegetables, meat and fish locally grown and produced whilst the modern supermarkets are fully stocked with a large range of local and imported goods. Agreements with an increasing number of countries eliminate the double taxation of income earned in any one of these countries. Compared with other international financial centres, Cyprus offers a distinct benefit in the form of double taxation treaties. In practice, the tax levied by one country is credited against the tax levied in the taxpayer s country of residence. Upon the issue of the covering permit or, if this is not required, an application must be made to the Appropriate Authority for the issue of a certificate of final approval.

Where different tax rates apply, the tax payer will ultimately not pay more than the higher of the two rates of the respectively countries. When this is issued, it will have to be deposited at the District Lands Office so that the registration of the building on the title deed of the land is effected. To date, double tax haven treaties exist between Cyprus and the following countries: Austria, Bulgaria, Belarus, Canada, Czech Republic, China, Denmark, France, Egypt, Germany, Hungary, Greece, India, Italy, Ireland, Kuwait, Norway, Malta, Poland, Russia, Romania, Slovakia, Syria, Sweden, United Kingdom, United States and, South Africa Yugoslavia.

Read more...

How Do You Obtain A Good Mortgage Loan With Bad Credit - Finance Articles:

How do you obtain a good mortgage loan with bad credit? And more often than not, the reply we obtain is not the reply we want to hear.

FOREX Trading Conditions Can Be Influenced By Real- Time Events - Finance:

The FOREX market is a cash market where foreign currencies are traded via brokers.

Payday Loans Offer Loans For Even Unemployment - Finance Blog:

Payday loans can help you in all walks of your life.