Cyprus is unique when it comes to the taxation aspects of living on the island. The following income tax rates apply to individuals:
Chargeable income
(€) |
Tax Rate |
Tax Amount
(€) |
Cumulative Tax |
0 – 19.500 |
- |
-
|
0 |
19.501 – 28.000 |
20 |
1.700
|
1.700 |
28.001 – 36.300 |
25 |
2.075
|
3.775 |
36.301 - 60.000 |
30 |
7.110
|
10.885 |
over 60.000
|
35
|
*GHS (GESY) contribution rates are as follows based on announcement received from the Ministry of Labour:
- 2,65% for employees,
- 2,90% for employers and
- 4% for self-employed
The links below will provide you with more detailed information on the main sections related to the Cyprus taxation.