Full capital gains tax exemption on capital gains, except on sale of immovable property situated in Cyprus
Capital Gains Tax is imposed on gains from the disposal of immovable property situated in the Republic including shares of companies not listed on a recognized Stock Exchange which own immovable property situated in the Republic, at the rate of 20%.
In computing the capital gain the value of the immovable property as at 1 January 1980 (or cost if the date of acquisition is later), the value of any additions as at 1 January 1980 (or cost if the date of the addition is later), any expenditure incurred for the production of the gain and the indexation allowance, are deducted from the sale proceeds.