Kibkom North Cyprus Forum

Have just been informed by my solicitor that I have CGT to pay on a recent property sale, does anybody know the rate I would be expected to pay? And do I have to pay it if I am purchasing another property.

do you mean the stoppage tax? You get one lifetime sale free of tax and then if you have sold before it is 2.8% on the sale value I believe.

Yes Col is right the 2.8% is based on the land office valuation. If the property you are buying is more expensive you can save your one off exemption from this tax for when you sell that one.

Ozankoys , just been through this myself , got my one off exemption even though new place that I've bought is a quarter of what I sold the last one for .

How can it be called a one off exemption if its a second purchase?
Or didnt you get it the first time.

the exemption is a one off once in a lifetime offer and you can use it anytime you want. it is not done automatically on your first property, when you decide to use you have to declare you want to use it on the particular property in question.
hope this helps Deniz1

Oh right thanks.