The Tax Department reminds, in a statement, of the mandatory payment of rent by electronic means of payment from July 1, 2026.
In the announcement, the Taxation Department states that, based on article 48A of the Tax Assessment and Collection Law L.4/1978, as enacted in the context of the tax reform, from July 1, 2026, the payment of rents relating to immovable property within Cyprus is made exclusively via bank transfer, or payment by debit or credit card, or any other recognized electronic means of payment.
"The above obligation applies to all natural and legal persons, regardless of the amount of the rent and the type of use of the real estate," he adds.
According to the Taxation Department, any beneficiary of rent relating to immovable property within Cyprus may not accept the collection of such rent in any other manner, other than those specified above.
