This special tax may apply only to tax residents of Cyprus and is imposed on:- Interest; Dividend; and Rental income; In 2015 the notion of Domicile was introduced into the Special Defence Contribution Tax. With this introduction Cyprus tax resident…
The citizenship by investment programme:- The Cyprus government has developed and maintains an attractive citizenship by investment programme aimed at foreign investors and businessmen. It must be noted that spouses/cohabitees and children up to the age of 28 that are…
On 30 December 2015 The Ministry of Finance (MoF) announced that it will promote amendments to the current Cyprus Intellectual Property (IP) tax regime that will be in full alignment with the OECD’s Base Erosion and Profits Shifting (BEPS) Action…
Significant changes to tax legislation in Cyprus The Cyprus government has recently passed a number of amendments to its tax laws, which considerably enhance the competitiveness of the Cyprus tax system. The changes are some of the most significant since…
CYPRUS TAX NEWS JUNE 2015 Double Tax Treaty – Cyprus & Georgia On 2 April 2015, a Double Tax Treaty (DTT) has been signed between Cyprus and Georgia. The agreement will come into force as from 1 January 2016 when…
Contributions % 2019 2018 Employer 8,3 7,8 Employee 8,3 7,8 Social insurance contributions are restricted to a maximum amount that is usually increased annually. The maximum amount that applies for 2019 is €54.648 (weekly €1.051/monthly €4.554). Other employer’s contributions The…
Existing rules as of September 2018 Investment type TOTAL INVESTMENT (EXCL. VAT) A. 1 Investment in realestate, land developmentand infrastructure projects,*Residental properties, -Commercial properties /Land development / Developments in the tourism sector / Combination €2.5M (*At least one residental property…
What is a benefit in kind? “Benefit in kind” means the benefit that is, or is deemed to be, granted in connection with any employment or the holding of an office. Scope of application: The rules apply with reference to…
Introduction The National Health Insurance System (“NHIS”) is introduced in Cyprus during 2019 and transforms the existing public healthcare system. Patients will have the freedom to choose their healthcare provider, both from the private as well as the public healthcare…