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

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

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 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 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

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....