Tax Information - 2010

Personal Income Tax

Interest Income	100%
Dividends	100%
Profits from sale of shares	100%
Widow pensions	100%
Amounts deposited under an approved scheme of the Housing Finance Corporation (with restrictions)	40%
Rental income from a preserved building	100%
Overseas pensions (tax rate of 5 %)	€3.420 Maximum
Emoluments from the provision of services to a permanent establishment abroad for a total period of at least 90 days in aggregate	100%
Emoluments of an individual in Cyprus in the case that prior to the employment in Cyprus he/she was a non-Cyprus resident (valid for 3 years starting the 1st of January following the year of his/hers employment)	The lower of 20% of the emoluments and €8.550
Profits from a permanent establishment overseas	100%

Social insurance deductions, pensions , contributions of a general medical fund, annual life assurances (up to 7% of the insurable amount), provident fund (with restrictions)	Restricted to 1/6 of the taxable income
Donations & subscriptions (with receipts) to approved charitable foundations	100%
Subscriptions to trade unions and professional associations	100%
Tax losses of current and prior years in the case where audited financial statements are prepared	100%
Rental income	20% on gross rental income, wear & tear allowances and loan interest
Expenditure incurred for the maintenance of a building in respect of which there is in force a Preservation Order	Up to €342, €513 or €598 per square meter (depending on the size of the building)

Annual Grant of €3.075 to each blind person.
Annual Grant of €2.562 for each child attending a third grade school in Cyprus (with restrictions) or attending a University abroad.
Annual Grant for each dependable child of a family that has it's residence in Cyprus according to the following table:

Number of children	Grant amount €	Additional Grant (income <€10.252 annually)	Additional Grant (annual income between €10.252 - €20.503)
1	342	85	43
2	683	342	256
3	2.050	769	640
4 and above	1.025 per child	342 per child	214 per child

Employees

Individuals, with gross income of more than €19.500 annually, must submit their personal income tax return to the office of the Inland Revenue until 30th April of the following year.

Self-Employed

Individuals with no obligation to maintain proper books and records and prepare audited financial statements must submit their personal income tax return to the office of the Inland Revenue until 30th June of the following year.

Individuals with an obligation to maintain proper books and records and prepare audited financial statements must submit their personal income tax return to the office of the Inland Revenue until 31st of December of the following year.