At the same time, the Tax Department calls on those who transferred real estate or company shares for loan restructuring purposes to proceed with a relevant objection in order not to pay the fee<\/p>\n
<\/p>\n
Until the end of June, the period for paying the 0.4% fee on the sale of real estate or the transfer of company shares for the benefit of the Central Body for Equal Distribution of Burdens (KFIKB) is extended, as is the period for submitting objections to the fee, according to an announcement by the Department Taxation.<\/p>\n
At the same time, after the passage of the relevant law by Parliament on January 18, the Tax Department calls on those who transferred real estate or company shares for loan restructuring purposes to proceed with a relevant objection so as not to pay the fee.<\/p>\n
The Department of Taxation reports that according to the latest legislation on the KFIKB published in the Official Gazette of the Republic dated January 26, 2024, no fee is imposed from February 22, 2021 in cases of transfer of real estate or company shares in the context of loan restructuring, on the amount of the price sale or appraised value, as the case may be, which is used to reduce or pay off non-performing loans.<\/p>\n
"Persons for whom a fee debt has been created and fall under the above provisions of the legislation, are invited to submit a written objection", it states.<\/p>\n
Relevant is the Form "Objection to Payment of Fee (Amount 0.4%) for a Central Body of Equal Distribution of Burdens" (Form T.F.15 KFIKB) 2024 which can be found on the website of the Department of Taxation, section Direct Taxation – Forms – Capital Gains . The objection can be submitted to the local District Offices of the Tax Department or sent by e-mail to the e-mail address dmd@tax.mof.gov.cy.<\/p>\n
The deadline for submitting objections, for any reason regarding the payment of a fee for a Central Agency for Equal Burden Distribution, is extended until June 30, 2024.<\/p>\n
The date of payment of the relevant Fee, without the imposition of monetary charges and interest, is also extended until June 30, 2024.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The Department of Taxation has extended the deadline for payment of the 0.4% tax on the sale of immovable property or transfer of company shares to the Central Agency for Equal Distribution of Burdens (KAEB) until the end of June. The department also urges those who have transferred property or shares for debt restructuring purposes to file a relevant objection in order to avoid paying the tax. The new legislation exempts the payment of the tax in cases of property or share transfers for debt restructuring from February 22, 2021. The deadline for filing objections related to the tax payment to KAEB has also been extended until June 30, 2024. The deadline for payment of the tax has also been extended until June 30, 2024, without any financial penalties or interest.<\/p>\n","protected":false},"author":2,"featured_media":2794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[3,284],"class_list":["post-2793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-cyprus","tag-property"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n