Transfer of Title

Molly


Joined: 30/08/2008
Posts: 299

Message Posted:
01/09/2008 18:36

For those fortunate people who are preparing to pay their taxes for the transfer of title - you may have to pay a little bit more to get them!



Your taxes are calculated using the sale price on your contract of sale, as of January this year. However..................the tax office are converting the sterling amount to Turkish Lira using the exchange rate from the date you signed your contract or took possession of the property. For example, todays rate is around 2.14 but if you bought your property in say 2005, they would use an exchange rate in the region of 2.5!



Another nice little earner for the government and it's despicable. Purchasers have been hit, yet again, through no fault of their own. If the Ministry of Interior had issued permits within a reasonable amount of time, ie. not the several year wait that most people have experienced, purchasers would have received their deeds a long time ago and with a considerably lower tax bill.



If you are about to do your transfer of title, I suggest that you contact the Cyprus Today to ask for clarification from the tax office and then write a letter of complaint to the paper. Believe it or not, the government do read the Cyprus Today and sometimes even back down on these issues.



Take action, it will effect everyone who is waiting for their title deeds.

windmill


Joined: 06/07/2008
Posts: 143

Message Posted:
01/09/2008 18:47

Hello Molly,thank you for that,i take it that you are the secretary for advocate Peyman Erginel Girne

windmill


Joined: 06/07/2008
Posts: 143

Message Posted:
02/09/2008 10:33

Hello Molly

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
02/09/2008 10:58

Thanks Molly .

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
02/09/2008 20:14

Holly.

I am not doubting you but just cant believe that things are so desperate that they are checking back on old records to find out what the ytl was worth in say september 2003! . And its definately the date of contract signing and not completion?

2.6 -2.1 is an increase of 25% for me,if you count tax is on purchase price instead of valuation now, then the kdv has increased by approx half again on what I expected.

Do your contacts know if the reverse happens,and the £ increases in value ,will the valuation then reduce?

I wish the value of my property had indeed increased by a quarter.

Is there anywhere the official information can be got .

robin hood


Joined: 26/05/2008
Posts: 238

Message Posted:
02/09/2008 20:24

Who still believes that PTP means a quick transfer of title? Tax or no tax. I was informed in February only a mattter of 10 days to three weeks to do it. Now because of pressure of work the Tapu wn't be able to put my name on tzthe title deed for at least a year, maybe more. Good eh? Still because I don't own it I'm not liable for council tax. They can't have it both ways. Yet!