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Cyprus: Developers oppose new property tax

Posted on 22 October 2012

Developers expressed their opposition to a proposed tax on large houses, currently being considered by the government as part the island’s bailout adjustment programme. The developers said Cyprus could raise property taxes at a time when it was trying hard to attract foreign investors.
In a written statement, the developers association considers “especially unfair” a proposal to introduce a tax on homes larger than 300 square metres. The state can increase its revenues by taxing the thousands of properties, which are not even on file………………………………………..Full Article: Source


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