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Tax for individuals

Imposition of Tax

An individual who is tax resident in the Republic of Cyprus (the Republic), is taxed on income accruing or arising from sources both within and outside the Republic.

An individual, who is not tax resident in the Republic, is taxed on income accruing or arising only from sources within the Republic.

Tax Residency

An individual who spends more than 183 days in the Republic is a tax resident of the Republic. An individual can be a tax resident of the Republic even if he/she spends less than or equal to 183 days in the Republic provided that he/she satisfies all of the following conditions within the same tax year (1st January – 31st December):

  • Does not spend more than 183 days in any other country
  • Is not a tax resident of any other country
  • Spends at least 60 days in the Republic
  • Maintains a permanent home in the Republic that is either owned or rented
  • Carries on a business in the Republic, is employed in the Republic or holds an office in a person who is a tax resident of the Republic at any time during the tax year
  • If the employment/business or holding of an office is terminated during the year, then the individual would cease to be considered a tax resident of the Republic for that tax year

The below points are for the purpose of calculating the days of presence in the Republic:

  • the day of arrival is considered as a day in the Republic
  • the day of departure is considered as a day out of the Republic
  • the arrival into the Republic and departure from the Republic on the same day is considered as a day in the Republic and Individuals Income Tax
  • the departure from the Republic and return to the Republic on the same day is considered as a day out of the Republic.

Tax Rate

Taxable Income €

Tax Rate %

0-19,500

0

19,501 – 28,000

20

28,001 – 36,300

25

36,301 – 60,000

30

60,001 and over

35 (this rate is applicable as from the year 2011 onwards)

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