Income Tax for Individuals in Cyprus

Income Tax for Individuals in Cyprus

All Cyprus tax resident individuals are taxed on all chargeable income accrued or derived from all sources in Cyprus and abroad. Individuals who are not tax residents of Cyprus are taxed on certain income accrued or derived from sources in Cyprus.  An individual is tax resident in Cyprus if he spends in Cyprus more than 183 days in any one calendar year. Days in and out o...
Corporation Tax for Cyprus based companies

Corporation Tax for Cyprus based companies

All Cyprus tax resident companies are taxed on their income accrued or derived from all chargeable sources in Cyprus and abroad. A non- Cyprus tax resident company is taxed on income accrued or derived from a business activity which is carried out through a permanent establishment in Cyprus and on certain income arising from sources in Cyprus. A company is a resident of Cyprus...
Value Added Tax (VAT) In Cyprus

Value Added Tax (VAT) In Cyprus

VAT is imposed on the supply of goods and provision services in Cyprus, as well as on the acquisition of goods from the European Union (EU) and the importation of goods into Cyprus. Taxable persons charge VAT on their taxable supplies (output tax) and are charged with VAT on goods or services which they receive (input tax).If output tax in a VAT period exceeds total input tax,...
Capital Gains Tax in Cyprus

Capital Gains Tax in Cyprus

Capital Gains Tax in Cyprus is imposed on gains from disposal of immovable property situated in the Republic including shares of companies not listed on a recognised Stock Exchange which own immovable property situated in the Republic, at the rate of 20%. In computing the capital gain the value of the immovable property as at 1 January 1980 (or cost if the date of acquisition ...
Immovable Property Tax

Immovable Property Tax

Immovable Property Tax is imposed on the market value as at 1 January 1980 and applies to immovable property located in Cyprus owned by the taxpayer on 1 January of each year. This tax is payable on 30 September each year. Physical and legal persons are both liable to Immovable Property Tax.  As from 1 January 2013, the bands and rates for Immovable Property Tax f...
Transfer fees in Cyprus

Transfer fees in Cyprus

These are paid on transfers of immovable property and are calculated on the market value of the property as estimated by the Land Registry department. Market Value €    Rate      Fee €   Cumulative Fee 0 - 85.000              3%       2.550        2.550 85....
Eight Predictions For Home Interior Designs Trends

Eight Predictions For Home Interior Designs Trends

Interior design is like any other art, it evolves. Sometimes radically. Sometimes conservatively. Whatever direction it takes though, there is something that will suit someone, always. I decided to do a little digging to see where this creative field is heading in 2014 and this is what I found. Tiles are still in.  What’s changed however is the choice of tile....
When The Cost For Energy Gets Too High

When The Cost For Energy Gets Too High

The rising cost of utilities has seen many people look for ways to reduce their energy consumption. There is much that can be done so as to consume less power.  You just need to know how. Here are 7 handy tips to keep in mind. Electronics Replace the old with the new.  Why? Because anything purchased more than 10 – 15 years ago will be drawing more energy th...
And Then There Was Light

And Then There Was Light

Lighting is all too often neglected when designing a home. What you need to remember is that lighting not only sets the mood of a room but also serves a function so choosing what lights to install is critical. And with this in mind, here are 6 things you need to remember. 1 Decisions decisions decisions Decide what each room will be used for and then choose the appropriate ...
Because Size Does Matter - Interior Space

Because Size Does Matter - Interior Space

The property market has ensured that we aren’t left with much of it nowadays. And let’s be honest, size does count. So what do you do when faced with the challenge of making something small appear that much bigger? You do some of this. 1. MIRRORS Use them. Big mirrors on small walls. A match made in spatial heaven. All of a sudden those walls seem bigger; clutter s...
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