NICOSIA, Dec 22 (Reuters) - Cyprus's tax revenues from real estate transactions fell 31 percent in the first 11 months of the year though tax gains overall were marginally higher than last year, data released on Monday showed.
Revenue from capital gains tax fell to 291.03 million euros from January to November, compared to 422.26 million during the corresponding period of 2007.
The levy is primarily charged on disposal of real estate, a sector which has been hit by slumping demand from west European markets for holiday homes on the island.
Real estate revenues boosted state finances to a 3.3 percent surplus in 2007. Authorities expect a surplus of around 0.5 - 0.7 percent in 2008.
Cyprus's inland revenue department Jan-Nov data showed a 10 percent increase in corporate tax revenues. Overall, total receipts were 1 percent higher at 1.83 billion euros. (Writing by Sarah Ktisti, editing by Stephen Nisbet)