Capital gains tax

Sources

Capital gains tax is 20% of the gain on disposal of immovable property in Cyprus, and on some share disposals. The Tax Department says the gain is reduced for inflation using the official retail price index. This page does not store that index. Enter the ratio from the Department's inflation table (indexed cost ÷ original cost). Disposal costs are not indexed. For an individual, the Capital Gains Tax Law as consolidated on CyLaw now states a lifetime exemption of €30,000, €50,000 where a farmer sells agricultural land, and €150,000 on a qualifying main residence used by the owner for at least five years (ten years if it is not the first such disposal) on land of up to 1.5 decares. A person does not get both the general exemption and the residence exemption. Anything already used comes off the amount. Companies do not get these lifetime exemptions. Gifts, inheritances and several reorganisations are outside the tax on conditions set out by the Tax Department. This calculator taxes one sale and does not decide whether the sale qualifies.