Current Stamp duty charges

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
20/05/2010 00:59

A friend needs to know stamp duty rate ? has any one stamped their contract recently if so what % did you pay ? cheers

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
20/05/2010 08:11

Details of all taxes payable here - http://nmplegal.com/pdf/GUIDE%20TO%20TAXES%20FOR%20PROPERTY%20TRANSACTIONS.pdf

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
20/05/2010 09:06

5 per thousand if stamped within a month. 1% between one month and six months. 1.5% after six months.

ismet

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
20/05/2010 09:19

Thank you both . Do you think there will be another reduction in the near future on stamp duty ? cheers .

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
20/05/2010 12:09

The stamp duty is always 5 per thousand. The penalty between one and six months is 100% and after 6 months 200%. There is a reduction in penalties from time to time and last time I asked about a couple of months ago the reduction in penalty was 80%. Probably it is so at the moment but it has to be checked. I prepared a programme in Excel for the tax office in Famagusta so that they can calculate the stamp duty easily any time. They are very greatful for that

ismet

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
21/05/2010 12:50

80% reduction in the penalties expired on 18th May but it is expectred to be extended soon. No no silly, its quite normal to extend it after it expires, not before

ismet

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
21/05/2010 12:55

Thank you elco2 !!