What is the personal income tax in Cyprus?

Where an individual is tax resident in Cyprus, tax is imposed on income accruing  or arising from sources both within and outside the island.

Where an individual is not tax resident in Cyprus,  tax is imposed on income accruing or arising only from  sources within Cyprus.

Tax resident in the Republic of Cyprus  is an individual who is present  here for a period exceeding 183 days in a tax year.

For the purpose of calculating the days of presence in the  Republic:

• the day of departure from the Republic is considered  to be a day out of the Republic

• the day of arrival into the Republic is considered to be  a day in the Republic

• the arrival into the Republic and departure from the  Republic on the same day is considered to be a day inthe Republic and

• the departure from the Republic and return to the Republic on the same day is considered to be a day out of the Republic.

 

The tax rates on personal income appear below:

Taxable IncomeTax Rate %Tax €Cumulative Tax €
0 – 19.500000
19.501 – 28.000201.7001.700
28.001 – 36.300252.0753.775
36.301 – 60.000307.11010.885
60.001 and over35

 

For further information on the exceptions please contact our law firm.

 

 

What is the personal income tax in Cyprus? by
Christophoros Christophi
About the Author
Christophoros Christophi

Lawyer and Managing Partner of Christophi & Associates LLC, Lecturer (Company Law) at the European University of Nicosia.
You can connect with him on LinkedIn and
Google+

Speak Your Mind

*