Tax on holiday rentals
Moderators: Soner, Dragon, PoshinDevon
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- Kibkommer
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Tax on holiday rentals
I understand 10% tax is due on lettings in property owned in the TRNC - Two questions:
1) Is an 'owner' liable before they have been issues with their kocan and PTP?
2) How does someone who is not a permanent resident of the TRNC go about paying this?
1) Is an 'owner' liable before they have been issues with their kocan and PTP?
2) How does someone who is not a permanent resident of the TRNC go about paying this?
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- Kibkommer
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Re: Tax on holiday rentals
Hi - we are not resident, but let out a flat and you take a copy of the signed contract to the appropriate office to register it and pay the tax there. You can pay the tax based on the rental figure in the contract quarterly in advance if you like 3/6/9/12 months or monthly. It's important that they are paid on time otherwise you are fined. We have an agent who does it on our behalf so sorry I'm not sure which office you go to, but would imagine it's the local government office. Hope this helps a bit.
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- Kibkommer
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Re: Tax on holiday rentals
Oh and yes you will be liable even if you don't have the Tapu yet or PTP
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- Kibkommer
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Re: Tax on holiday rentals
The tax is due on any rental not only holiday lets. The tax office is in Girne behind the District office near the hospital.
- andrew4232
- Kibkommer
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Re: Tax on holiday rentals
strange how the heading in the paper was 'expats' strange the locales are not mentioned
Karaman, its not all wax jackets and green wellies anymore
- LooseBoots
- Kibkommer
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Re: Tax on holiday rentals
Saw on another forum they estimated 90% were ex pats. Don`t know where they get their figures from. I know before we moved over here someone ( not an ex pat) was renting their house out and included the use of their car. As it turned out we didn`t take it because the lady rang us as the house had severe leaks in the bad rains. Point I am making is yes it is not only ex pats that are guilty.
Always look on the Bright side of life. Monty Python - Life of Brian.
Be nice to one another.Reporting from Portugal
Be nice to one another.Reporting from Portugal
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- Kibkommer
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Re: Tax on holiday rentals
Easy targets ex pats no cousins.
- Mel7348
- Kibkommer
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Re: Tax on holiday rentals
Easy targets, maybe, but the law is the law and has been pretty well publised in the English language press. Not a good idea to get caught and fined. Don't know if it would be entered on your immigration file with subsequent problems in the future.
Life's too short to stuff a mushroom
- Mel7348
- Kibkommer
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Re: Tax on holiday rentals
Just another thought. If prosecuted and found guilty,does that constitute a criminal cinviction? anyone know?.
Life's too short to stuff a mushroom
- Soner
- Kibkom
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Re: Tax on holiday rentals
Mel7348, I heard that if you fell behind in payments for a few years what they do is charge you for 10 years minimum. I may be wrong, but this was what I was told by a local who had rented out several properties and had to negotiate to 5 years full payment on all his properties, instead of the request 10 years - he was happy with this arrangement. This was just last year. Erm, I need to sort mine out too soon. It's just one of those things, when I asked to pay by bank transfer at the time they would not accept, when abroad it is so difficult to sort out, and avoiding fines is also a pain.
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- Kibkommer
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Re: Tax on holiday rentals
Hi, four years ago we were renting a flat from a Cypriot landlord, at the time I needed to go for residency every year.
The police would not accept my rental contract unless I had a receipt from the tax office, where I, not the landlord, had to pay the rental tax.
The police would not accept my rental contract unless I had a receipt from the tax office, where I, not the landlord, had to pay the rental tax.
Remember, no matter where you go, there you are.
- Soner
- Kibkom
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Re: Tax on holiday rentals
Blue Butterfly, I had my tenants have to do the same for me as I was not there and I paid them back. But I think you are confusing the rental tax with the property rates, it was the rates that they had to pay.
Support businesses that are supporting the Kibkom Forum - At least contact them for a quote.
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- Kibkommer
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Re: Tax on holiday rentals
Quite likely, I am easily confused. Anyway, no problems now, no yearly hassle at lefkosa. I am the proud possessor of a Cyprus 'birth certificate' and kimlik. Had to marry a TC to get them but i'm slowly getting him house trained, when I can get him out of his mother's and the local cafe.
Remember, no matter where you go, there you are.
- Soner
- Kibkom
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Re: Tax on holiday rentals
Good for you.
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- Kibkommer
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Re: Tax on holiday rentals
Well Soner, I did promise for better or for worse, until death do us part. Just as a matter of interest, do they have capital punishment here?
Remember, no matter where you go, there you are.
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- Kibkommer
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Re: Tax on holiday rentals
No but they Capital Gains Tax :0
- Gary-monger
- Kibkommer
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Re: Tax on holiday rentals
most of the people on our site who rent their villas out "keep their heads down and their mouths shut"...
if you know what i mean.
if you know what i mean.