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Cyprus Income Tax Rates 2015

Individuals - Income Tax

Taxable Income (EUR)

Tax Rate (%)

Up to 19,500

0

From 19,501 - 28,000

20

From 28,001 - 36,300

25

From 36,301 - 60,000

30

Over 60,000

35

 

Individuals Special Contribution Law

Gross monthly salary (Eur)

Employee (%)

Employer (%)

0 - 1,500

0%

0%

1,501 to 2,500

1.25%

1.25%*

2,501 to 3,500

1.5%

1.5%

3,501 and above

1.75%

1.75%

*Minimum tax €10

 

Companies

Taxable Income (EUR)

Tax Rate (%)

All income

12.5

 

VALUE ADDED TAX (VAT)

19% on majority of sales of goods/services; reduced or zero rate on certain specific items.

CAPITAL GAINS TAX (CGT)

20% is imposed only on gains on disposal of immovable property located in Cyprus or on disposal of shares of non-listed companies with immovable property located in Cyprus.

LOSSES

Can be offset against other sources of income, and can be carried forward for 5 years. Losses of a company can be set off against profits of another company in the same group (group of Cyprus tax-resident companies). Worldwide losses can be set off against taxable income of the same year or carried forward.

TREATY NETWORK

55 countries.

WITHHOLDING TAX (non residents)

  • Dividends: 0%
  • Interest: 0%
  • Royalties: 0% (10% on royalties used in Cyprus. 5% on film and TV royalties).

 


Doing Business Abroad - Tax Rates 2015 /2016

 
Albania | Angola | Austria | Azerbaijan | Bahrain | Belgium | Bulgaria | Cameroon | Croatia | Cyprus
Czech Republic | Denmark | Egypt | Estonia | Finland | France | Georgia| Germany | Greece
Hungary | Ireland | Isle of Man | Israel | Italy | Jordan | Kazakhstan | Kenya | Kuwait | Latvia | Lebanon
Liechtenstein | Lithuania | Luxembourg | Malta | Mauritius | Morocco | Netherlands | Nigeria
Norway | Oman | Palestine | Poland | Portugal | Qatar | Romania | Saudi Arabia | Serbia | Slovakia
Slovenia | South Africa | Spain | Sweden | Switzerland | Tanzania | Tunisia | Turkey | Uganda
Ukraine | United Arab Emirates | United Kingdom | Yemen
Contact Us
Horwath DSP Limited
8 Stassinos Avenue, 1st Floor
Photiades Business Centre 1060 Nicosia, Cyprus
PO Box 22545, 1522 Nicosia, Cyprus
Tel: +357 22755656
Fax: +357 22452055
mailbox@crowehorwath.com.cy

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