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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 Income||Tax Rate %||Tax €||Cumulative Tax €|
|0 – 19.500||0||0||0|
|19.501 – 28.000||20||1.700||1.700|
|28.001 – 36.300||25||2.075||3.775|
|36.301 – 60.000||30||7.110||10.885|
|60.001 and over||35|
For further information on the exceptions please contact our law firm.