Stamp duty is payable on all agreements and documents which involve any property situated in Cyprus and/or matters or things taking place in Cyprus. The due date for stamp duty payment is within 30 days from the date of the signing of a document which is considered to be stampable.
If for whatever reason the agreement which is considered to be stampable is not duly stamped, then there would be a penalty imposed.
Recently there was a change in the process of stamping documents. The Cyprus Tax Department announced that as from 27/07/2020 the procedure of stamping of documents, based on the value of the document, changes. Such documents include rental, employment, loan, sale, purchase agreements etc.
The new stamping process only applies to original agreements. The value of stamps may be calculated online through the Tax Department website. If the total amount of the stamps does not exceed the amount of €100, the interested party can send the relevant stamp calculation to the Tax Department electronically. Additionally, the party must purchase the stamps from a licensee representative and not from the Tax Department.
When the total amount of the stamps exceeds the amount of €100, the interested party should follow the above mentioned process of calculation through the relevant website, print the relevant document of calculation and take it to the Tax Department for effecting payment.
Applicable stamp duty rates
The main rates of stamp duty for contracts are the following:
