The Cyprus Ministry of Finance is providing further tax relief for owners of real estate that is rented to individuals or legal entities considering the further lockdown approved in response to COVID-19 from 10 January 2021. With the latest relief, if owners reduce the rent amount for a period of up to six months for tenants that have been affected by the COVID-19 pandemic, they will receive a tax credit equal to 50% of the rent reduction amount. The rent reduction should be no less than 30% and no more than 50% of the monthly rent. In addition to the...