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Updated : 12/2012

Taxes

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Which income will be taxed in Cyprus?

• Live in Cyprus (min. 6 months in the tax year)? You must pay tax on your worldwide income there.
  
  
• Lived in Cyprus but less than 6 months in the tax year? You are not considered tax resident and pay tax only on income earned in Cyprus.
  
  
• Income from other EU countries? Check you never pay tax twice on the same income.

How much will you pay?

What's left of your gross income in Cyprus after deduction of taxes and social security contributions?

Income tax rates for 2011

Bracket	Annual income	Rate
1	up to €19,500	0%
2	€19,501 – €28,000	20%
3	€28,001 – €36,300	25%
4	over €36,301	30%

Take into account:

• tax allowances (available to all taxpayers, but the amount depends on your personal situation)
• any deductions you are entitled to for certain types of expenditure.

When and how do you pay?

You must file an estimated provisional return of your total taxable income from the previous tax year before 1 August. Based on the estimated return, you must make 3 equal advance payments on 31 July, 30 September and 31 December.

Earn less than €70,000? You must file a definitive tax return by 30 June in the year following the tax year and pay any tax due by 1 July.

Earn more than €70,000? You must pay any tax due by 1 August in the year following the tax year. You must file a definitive tax return by 31 December in the year following the tax year. This return must be accompanied by audited accounts — your final taxable income will be calculated on the basis of these audited accounts. This means that all your documents should be ready before 1st August — but you can file the definitive tax return later.

How to appeal/complain

If you disagree with your tax assessment, you can appeal to the tax office.

Read your tax assessment letter carefully to find out exactly which department you should send your appeal to and which procedures you need to follow.

Links

Cypriot government – income tax info

Tax laws – EU and individual countries

Still need help?