Kibkom North Cyprus Forum

Does anyone know the Builder/Developer's Tax Liability in percentage terms on exchange of title?

I wish you luck with this. I have had NO success whatsoever. For instance, the KDV which I am going to have to pay, how do I know whether the builder has already paid it?

No one seems to want to talk about this subject.

I will have to pay all but it is a bit riduculous not being able to find out.

suehowlittle wrote:I wish you luck with this. I have had NO success whatsoever. For instance, the KDV which I am going to have to pay, how do I know whether the builder has already paid it?

No one seems to want to talk about this subject.

I will have to pay all but it is a bit riduculous not being able to find out.

Go along with your builder / vendor, and watch them pay it - I did...

Suehowlittle/Skybluesam...found this on Peyman Erginell website, may have to trowel through it but may give you some info..not sure how old the site is, one has to presume it's up to date.



http://www.peymanerginel-lawfirm.com/in ... ?showall=1

Not sure if I follow you re share title ... we went with the builder to the Tax department where ''he paid'' 4% then to the TAPU office where we paid our 3%. They would not take cash so we had to go to the builder's bank for a bank cheque and pay that way. The deeds then go into the local newspaper for a month then the TAPU has to write the deeds so we await their efforts but expect it to take no more than a few weeks.

Hi the builder should pay 4% Stoppaj Tax & the KDV (VAT) is 5%. The Purchaser has a one off concession to pay 3% tax otherwise it is 6%.
It is not necessarily the builder's fault with the KDV if you have already paid this to him when taking possession of the property (some builders were insisting on this) as the tax office are not accepting old receipts for KDV it has to be paid again. Obviously you have no way of knowing if the builder paid it over or not or if it is the tax office bumping up their revenue!