Capital gains tax (CGT) is charged at the rate of 20% on gains arising from the sale of immovable property in Cyprus or the sale of shares of companies that own immovable property in Cyprus.
Allowances
Individuals are entitled to deduct from the capital gain the following lifetime allowances:
- Disposal of principal private residence (subject to conditions) €85.430
- Disposal of agricultural land by a farmer €25.629
Other disposals €17.086
