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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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