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Useful Cyprus Information Cyprus Government Websites Currency Converter Cyprus Property News Limassol Marina CyprusNewsReport.comCyprus Income Tax Rates 2011
Information for Cyprus Expats on the Cyprus presonal income tax rates, Cyprus tax residency status and how days are calculated for Cyprus tax residency.
Tax residents in Cyprus are taxed on all of their income from Cyprus and abroad. Residents that are not tax residents of Cyprus, are taxed on income from Cyprus.
A person is classed as being a tax resident of Cyprus if he is in Cyprus for more than 183 days in a single year. Days calculated on travelling to and from Cyprus are classed below
1 The day you are leaving Cyprus is calculated as being resident outside Cyprus
2 The day you arrive in Cyprus, is classed as being resident in Cyprus
3 If you arrive and depart Cyprus on the same day, then this is classed as being resident in Cyprus.
4 If you depart Cyprus and return the same day, then this is classed as being resident outside Cyprus
The Cyprus personal tax rates for 2011 are:
Income Tax rate Tax accumulated
€0 - €19,500 Nil % €0
€19,500 - €28,999 20 % €1,700
€28,001 - €36,300 25 % €3,775
€36,000 plus 30 %
If you receive a pension from outside Cyprus, then this is taxed at a rate of 5%, with an annual allowance of €3,420
These rates are subject to change, and are meant as a guide only.
© CyprusExpat.co.uk
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