|
Other exemptions |
| Transfers
arising on death |
| Gifts
made between husband and wife |
| Gifts
made from parent to child |
| Gifts
made to relatives up to third degree |
| Gifts
to approved charitable institutions |
| Gifts
to the Republic of Cyprus |
| Gifts
to local authorities for educational or other charitable purposes |
| Transfers
as a result of re-organisations |
| Expropriations
under the Compulsory Acquisition Law |
| Exchange
or disposal of immovable property under the Agricultural Land
(Consolidation) Laws |
|
Gifts to a company where
the company’s shareholders are members of the donor’s family and the
shareholders continue to be members of the family for five years
after the day of the transfer.
|
|
Gifts by a family company,
of which all its shareholders are members of the same family,
provided that the property was originally acquired by way of a gift.
In the case of subsequent disposal the donee can use his lifetime
exemption if the property is kept for at least three years.
|
|
Exchange of properties
where the values are equal or provided that the whole of the gain
made on the exchange has been used to acquire the other property.
The gain that is not taxable is deducted from the cost of the new
property and the payment of CGT is deferred until the disposal of
the new property.
|
|
Indexation allowance:
applies on the market value of the immovable property since 1st
January 1980
|
|
Expenses incurred wholly
and exclusively for the production of the gain, except for the
Immovable Property tax, Immovable Property Levies and Sewage Board
Levies
|
Notes:
1. It must have been the
private dwellings for a least 5 years prior to its disposal
2. Deductions based on any combination of the above are subject
to a maximum amount of €85.430,07 |
