Cyprus capital gains tax calculator

The Cyprus property tax calculator is created to provide you with an estimate of your capital tax upon selling a property in Cyprus. The capital gains tax in Cyprus is set at a fixed rate of 20% on the profit earned from the sale of immovable property. By inputting specific information such as the selling price, purchase cost, additional expenses, and potential allowances, you can obtain an approximate calculation of the applicable capital gains tax for your situation.

Acquisition

Sale Price Cost of Acquisition Year of Acquisition 19791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025

Less Indexed Cost of Acquisition

Improvements

Cost of Improvements Year of Improvements 19791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025

Less Indexed Cost of Improvements

Expenses

Legal Fees Transfer Fees Interest on Loan Estate Agent Fees Other Expenses

Less Directly Related Expenses

Summary

Less Lifetime Allowance

Total Deductions Chargable Gains / Loss Capital Gains Tax @20%

Exemptions (Lifetime Allowance) Individuals are granted exemptions from paying taxes on the profits earned from selling immovable property once in their lifetime. The exemptions are as follows:

1. €85,430 for the disposal of a dwelling house (subject to specific conditions).
2. €25,629 for the disposal of agricultural land by a farmer (subject to specific conditions).
3. €17,086 for the disposal of other types of property.

Non-Taxable Disposals Certain transactions are exempt from capital gains tax:

1. Transfers in contemplation of death (inheritance or succession).
2. Gifts between spouses, parents, children, and relatives within the 3rd degree of affinity.
3. Gifts made to a company whose shareholders are all members of the disponer’s family and will remain so for at least five more years.
4. Gifts made from a company whose shareholders are all members of the same family to its shareholders provided that the property was acquired as a gift.
5. Gifts made to charity institutions, the Republic, or a political party.
6. Property exchange, where the gain is used to acquire another property, and the tax is paid upon the sale (subject to certain conditions).
7. Expropriations of immovable property.
8. Transfers in the case of a company’s reorganization.
9. Transfer of a missing person’s estate.
10. Transfer of immovable property between individuals whose marriage has been dissolved by a court decision.
11. Transfer of immovable property due to loan restructuring (subject to specific conditions).
12. The capital Gains Tax calculation provided is for informational purposes only and is not professional advice. You can consult a tax professional for accurate guidance.