articles | 16 December 2015

Almost €85m collected from IPT

The government had collected €84.48 million from the immovable property tax (IPT) 2015 by December 3 2015, which accounts for some 82.25% of the total amount owed.

The total discount granted to tax-payers who paid the tax by December 1 – benefiting from a discount of 20% and 17.5% according to the relevant law – was up to €20.29 million. The percentage of individual taxpayers who have paid their tax was 89.55%, while the responding percentage for legal persons was 70.49%.

A total of 77% of taxpayers who belong to higher tax brackets have paid. According to the records of the tax department, 272,003 tax payments were imposed.

The amount which remains to be collected is €22,804,614, which corresponds to 17.9% of the total amount due of €127.39 million.

Source: Cyprus Mail

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