Taxes in Europe Database v2
Law No 52/1980 as amended
Republic of Cyprus
The individual or legal person that sells immovable property or shares of a company holding immovable property, provided that such a transaction is not done in the normal course of business.
The capital profit from disposal of immovable property situated in Cyprus, or shares of a company holding immovable property, which are not listed in any stock market, provided that such a transaction is not done in the normal course of business.
The tax is imposed in the net profit from the disposal. The net profit is calculated as the disposal proceeds less the greater of the cost or market value as at 1st January 1980 as adjusted for inflation. Inflator is calculated using the official Retail Price Index.
20% on the net profit from disposal.
On the date of sale.
Lifetime exemptions for individuals: 1. For sale of own residence: €85,430.07 2. For sale of agricultural land by a farmer: €25,629.02 3. For other sales: €17,086.01