The Tax Department reminds the public that, pursuant to Article 48A of the Assessment and Collection of Taxes Law No. 4/1978, as enacted within the framework of the tax reform, from 1 July 2026, the payment of rent relating to immovable property located in Cyprus must be made exclusively through:

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 rent and the type of use of the immovable property.

Any person entitled to receive rent relating to immovable property located in Cyprus may not accept payment of such rent by any method other than those specified above.

It should be further noted that the rent expense will not be deductible if the payment is not compliant with such means.