Capital Gains Tax (CGT) rate is 20% and applies only to immovable properties situated in Cyprus. CGT is calculated after deducting inflation and expenses related to acquisition and sale of property.
Exemptions:
- Gifts from relatives up to third degree
- Transfer due to death
- Lifetime exemptions
- Private principal residence €85,430
- Agricultural land €25,629
- Other €17,086
- Gift by a company where the shareholders are and continue to be members of the disposer’s family (up to third degree) for at least the next five years
- Approved re-organisations
Capital losses can be carried forward to be set off against other CGT.
