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Cyprus Taxation 2019

Cyprus Taxation 2019

PERSONAL INCOME TAX
A person who is a tax resident in Cyprus is taxed on worldwide income (Chargeable income accrued or derived from…
CORPORATION TAX
Tax Allowances/ Exemptions of Legal Entities Cyprus Tax Resident Companies are those which are managed and controlled in Cyprus. These…
ANNUAL WEAR & TEAR ALLOWANCES
Buildings Rate % Industrial Buildings 4 Agricultural Buildings 4 Hotel Buildings 4 Industrial and Hotel buildings acquired during 2012-2016 7…
SHIPPING COMPANIES
As from 24th March 2010, the Tonnage Tax System (TTS) was introduced with the Merchant Shipping (Fees & Taxing Provisions)…
CAPITAL GAINS TAX
Capital gains tax is imposed at the rate of 20% on: gains from the disposal of immovable property situated in…
VALUE ADDED TAX - VAT
Value Added Tax is imposed on the supply of all goods and services in Cyprus, on the acquisition of goods…
SPECIAL DEFENCE CONTRIBUTION
Special Defence contribution is imposed on dividend income, ‘passive’ interest income and ‘passive’ rental income earned by companies tax resident…
IMMOVABLE PROPERTY TRANSFER FEES
The transfer fees are paid by the acquirer to the Department of Land and Surveys on transfers of immovable property…
SOCIAL INSURANCE CONTRIBUTIONS
Social insurance and other contributions are calculated at the following rates on employee’s gross weekly/monthly emoluments. Percentage of Earnings FundEmployerEmployeeSelf…
STAMP DUTY
The following table gives the amount or rate of duty payable on certain documents. Transactions which fall within the scope…
National Health Insurance System
As from 1 March 2019 the General Healthcare System Law of 2001 (GHS) will come into effect. Employees, employers, Individuals…
THE CYPRUS ALTERNATIVE INVESTMENT FUNDS (AIFS) AND UNDERTAKINGS FOR COLLECTIVE INVESTMENT IN TRANSFERABLE SECURITIES (UCITS)
The Alternative Investment Funds Law 124(I)/2018, to the extent amended (hereinafter, the ‘’AIF Law’’) defines alternative investment funds as any collective…

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