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    Taxes to be paid while purchasing property in T.R.N.C.

    by admin on December 27, 2019
    Taxes to be paid while purchasing property in T.R.N.C.
    • If a Contract of Sale is made, 0.5% of Sale Price as Stamp Duty (Paid by the Vendor)
    • 6% Land Registry Fee for Transfer of Immovable Property Title Deed (However, each Purchaser has the right to pay 3% instead of 6% on a one-time basis)
    • 5% VAT (Paid by the Purchaser; subject to change based on the Professional status of the Vendor. If the Vendor is not a Professional, Purchaser does not pay the 5% VAT)
    • Capital Tax (Paid by the Vendor)
    • The applicable taxes are different if the transfer is done as a gift; 0.2% for gift from parents to children, 0.4% for gift from one spouse to another, 0.4% and capital tax for gift from grandparents to grandchildren
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