Individuals who are not tax residents of Cyprus are taxed on certain income accrued or derived from sources in Cyprus.
All Cyprus tax residents are taxed on all chargeable income accrued or derived from all sources in Cyprus and abroad.
A person is regarded to tax resident in Cyprus if he/she spends in Cyprus more than 183 days in any calendar year.
Taxable Income €
|
%
|
Tax €
|
Cumulative Income €
|
Cumulative
|
---|---|---|---|---|
0-19.500
|
0
|
-
|
19.500
|
-
|
19.501-28.000
|
20
|
1.700
|
28.000
|
1.700
|
28.001-36.300
|
25
|
2.075
|
36.300
|
3.775
|
36.301-60.000
|
30
|
7.110
|
60.000
|
10.885
|
Over 60.000
|
35
|
-
|
-
|
-
|
|
100%
|
|
100%
|
|
100%
|
|
100%
|
|
40%
|
|
100%
|
|
€3.418 Maximum
|
|
100%
|
|
The lower of 20% of the emoluments and €8.543 annually
|
|
100%
|
|
50% of Income from employment in Cyprus for the first 5 years
|
1 |
Social insurance deductions, pensions, contributions of a general medical funds, annual life assurances (up to 7% of the insurable amount), provident funds (with restrictions)
|
Restricted to 1/6 of the taxable income.
|
2
|
Donations & subscriptions (with receipts) to approved charitable foundations
|
100%
|
3
|
Subscriptions to trade unions and professional associations
|
100%
|
4
|
Tax losses of current and prior years in the case where audited financial statements are prepared
|
100%
|
5
|
Rental income of immovable property.
|
20% on gross rental income, wear & tear allowances and loan interest.
|
6
|
Expenditure incurred for the maintenance of a building in respect of which there is in force a Preservation Order (with conditions)
|
Up to €1.200, €1.100 or €700 per square meter (depending on the building area).
|
Monthly
Income/salary |
Total
Contribution |
Employer's
contribution |
Employee's
contribution |
---|---|---|---|
€0 - €1.500
|
0%
|
0%
|
0%
|
€1.501 - €2.500
|
2.5% (< € 10)
|
1.25%
|
1.25%
|
€2.501 - €3.500
|
3.0%
|
1.50%
|
1.50%
|
More than €3.501
|
3.5%
|
1.75%
|
1.75%
|
Cyprus Company formation for trade, service, e-commerce, IPs. learn the criteria Cyprus, a Member State of the European Union, has been an important centre for trade and commerce since antiquity.The small but dynamic country has a long established reputation as a “Centre of Excellence” for international business activities Read more... |
Trust Formation for effective wealth management and succession planning. learn the criteria Forming a company in Cyprus can take the form of a private or public limited liability companies by shares and companies limited byguarantee which are all incorporated pursuant to the Cyprus Companies Law. Read more... |
Live and work in cyprus for non-european citizens learn the criteria Get in touch with P. KALOPETRIDES & CO. for a tailor made advice on the process for acquiring permanent residencyWe provide guidance on the documents required and assist with preparation (employment agreement and the like. Read more... |
Call us and schedule your meeting today! CONTACT US
Copyright © 2025 P.Kalopetrides&Co. Joomla templates by HotThemes.