The Cyprus Tax Department has recently issued an announcement reminding taxpayers that, pursuant to Article 48A of the Assessment and Collection of Taxes Law (Law 4/1978), introduced as part of the recent tax reform, payments of rent relating to immovable property situated in Cyprus must be made exclusively through recognised electronic payment methods from 1 July 2026.
Accepted payment methods
From 1 July 2026, rent payments must be made exclusively via:
- Bank transfer
- Debit or credit card payment
- Any other recognised electronic payment method
Who is affected?
The above requirement applies to all natural and legal persons, regardless of:
- The amount of the rent; or
- The type or use of the immovable property.
Furthermore, any recipient of rental income relating to immovable property in Cyprus may not accept payment through any other method other than those specified above.
How can SPL Audit assist you?
SPL Audit Cyprus can assist individuals and businesses in understanding the new payment requirements introduced under the tax reform and assessing any actions required to ensure compliance.
Should you wish to discuss the above or understand how these developments may affect your rental arrangements, you may contact our Tax Department at SPL Audit Cyprus. We will be pleased to assist you. Contact us here.
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