Posts tagged cyprus tax
Deadlines for Tax Returns & Rebates for Expats in Cyprus and UK

Tuesday Tax Blog: This Week Deadlines for Tax returns & Rebates for Expats in Cyprus and UK

Cyprus Temporary Tax Returns & Payments are now due. 

UK tax returns and  rebates for tax paid in the UK in 2016/17 can now be reclaimed.  

Are you certain your tax affairs will stand the scrutiny of Exchange of information ?

ProACT Sam Orgill  has written a free guide for Expats to download explaining the new risks from the taxman, follow the link to download:

Assessing the Risk - How the Tax man Shares Your Information

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10 Things To Do for Expats to Protect Overseas Property Investment

Sam Orgill  asks what do you want from the changes to Domicile from a Cyprus perspective. Change of Domicile Impacts Everything

In the Summer of 2015 Cyprus has introduced wide ranging changes in legislation that has a direct impact on the tax status of assets held by expats in Cyprus. 

Now every Expat must review their Wills, Inheritance Tax, Savings Taxes and Property Title Deeds: to bring their needs in line with the new legislation. 

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Sam Orgill of gives

5 Things Expats Should include in Their Exit Strategy - when Living and Working Abroad Goes Wrong

What gets missed, in the excitement and enthusiasm of relocating overseas, achieving your dream of Living and Working Aboard, investing in overseas property and business, is an exit strategy. 

We all get carried away with something new, something exciting, and can easily allow our common sense to be left on the beach while we go in search of promised new lands, home and work abroad. But what then? How do we get back home? What if the dream fails?

Here’s a check list of 5 things for expats to include in their exit strategy.


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Will You Lose State Pension Indexation With Brexit?

Many British Expats are Living and Retired Abroad in EU countries such as Spain, Portugal, France, Cyprus and Germany and receive indexed annual UK state pensions.  This applies to all EU countries, plus EEA countries, Switzerland and Gibraltar.

With EU Brexit this automatic right will be lost.  It may be during Brexit that Britain negotiates replacement arrangements, to allow pension indexing to continue


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EU Brexit for Expats - Potential Impact on State Pension Indexing

Expats Living and Retired Abroad can receive indexed UK state pensions if they live in a country with a reciprocal agreement for pension indexation. That includes all the EU Countries, so with EU Brexit - what happens to Expats Receiving UK State Pensions?

Whatever the manner of UK Brexit from the EU, Overseas Tax on Pensions paid offshore will continue to be determined by the relevant double taxation treaty - for better or worse. 



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Reclaiming Immovable Property Cyprus Tax Savings

Reclaiming Immovable Property Tax

Sam Orgill 

How to reclaim immovable property tax on Cyprus Property

Big changes in Immovable Property Tax (IMPT) on Cyprus Property mean that tax savings are available for Expats owning Cyprus Property. Big changes mean IMPT tax savings and rebates are now available for Cyprus Property Owners.

If you own a property with only a contract of sale , since 2014 you are responsible for immovable property tax and should be registered.  This tax is paid through the income tax office.  If not you could pay a higher rate of tax to the developer.  Register as the IMPT payer to save expensive bills from a developer.


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Very Moveable Property Tax Savings

Confirming the Cyprus Property Tax Savings for 2016 and More

Sam Orgill 

In Cyprus the Tax payment year starts on 1st July, for the current calendar year.  Around the start of June a budget and tax changes for the current year 2016 is proposed – with the idea that changes are passed to law by the end of June.

In 2016 we have the culmination and possible resolution of Cyprus Property Tax changes – but not as you imagined, or was proposed in 2016, 2015 or 2014. A fierce debate has raged in parliament and delayed voting until well into July, the outcome of the long term property tax plan is a further sign of the Cyprus government intention. 

The very Movable solution are big immovable property tax savings for expats owning overseas property in Cyprus. You will be astonished at the changes in annual property taxes and title deed taxes.


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What Will You Wish For? Cremation V Burial

Sam Orgill   How Do You Want To Leave This World ? Safe, Secure, Fun

When you make a Will you are setting out how your accumulated processions, assets and wealth are to be passed on and who to. You could create legacies for the good of family down the generations, or through charities that you support.

Cremation V Burial

Not everyone likes to discuss their funeral service and how their body is disposed of.  However if you will die, these questions need to be dealt with.  Often this is done with private agreement between family. In this article we wish to explore what that you choices and options are.

A recent survey in the UK found British people had a 60% preference for cremation.  Of those favouring cremation 80% envisaged their ashes be scattered.


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Half Year Tax Returns and Online Cyprus and UK returns Due From July

A new exchange rate apply for Cyprus Tax returns to Estimate 2016 Tax payments for overseas income not taxed at source.

This is payable by the Expats Retired with overseas pension income and Self Employed in Cyprus. Those with pensions paid overseas cyprus tax is payable from July


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Business Relief for Cyprus Business Behind With Social Insurance Payments

Embattled Cyprus Companies, Self Employed and all Employers are offered welcome relief in new legislation that offers tax saving and a payment plan to bring Social Insurance upto date. Businesses must make a written application to receive tax savings of interest and avoid legal action for social insurance arrears.

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Only Pay Your Own Immovable Property Tax

Sam Orgill ProACT Partnership Expatriate Advice Suggests You enjoy the reductions in Immovable Property Tax (IMPT) and that you Only Pay Your Own Immovable Property Tax. IMPT is being scrapped in Cyprus, but don't throw away money where you are not obliged.

Developers IMPT

Don’t get caught out.  Since 2014 contract of sale owners, without title deeds, have been able to register and pay IMPT directly. This is always at a lower IMPT rate than the developers who pay at a rate based upon their total land holdings.

This is because developers pay an IMPT rate based upon the whole title deed of their development. This could be 3 times as much, 1.9% instead of 0.6%.  So registering to pay IMPT direct if you hold a contract of sale gives a big tax saving on your overseas property.

Buyers only have to pay developers IMPT for previous years if their contract of sale explicitly states the buyer is responsible for IMPT.

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