I would like to welcome you to Deloitte's annual Cyprus tax facts.

Cyprus tax facts has proven to be a useful tool for all businesses and individuals wishing to have up to date information on the tax environment in Cyprus.

The provision of taxation services is one of our core service lines with special emphasis on Business Tax, Personal Tax, Indirect Tax (including VAT), Global Employer Services (including solutions for High Net Wealth Individuals) and Cross-border Tax.

DELOITTE IN CYPRUS

Deloitte is one of the largest providers of audit, tax, consulting and financial advisory services in Cyprus.

Our wide range of professional services includes:

  • audit of financial statements in accordance with International, UK or US audit standards
  • tax services to both Cyprus and foreign companies
  • consulting services including financial and management consulting, information technology (IT), EU advisory services and human resource consulting
  • investment & wealth advisory services
  • e-business services
  • corporate finance services as well as advice and assistance to private companies considering to go public
  • accounting services
  • formation of companies with lawyers and special services to international business companies

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Deloitte Touche Tohmatsu Limited (DTTL) is one of the largest private professional services organisations in the world.

More than 220.000 people in over 150 countries serve more than 80% of the world's largest companies, public institutions, as well as fast-growing small and medium sized enterprises.

INCOME TAX

Ιndividuals

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 is tax resident in the Republic if he/she is present in the Republic for more than 183 days in a tax year.

For the purpose of calculating the days of presence in the Republic:

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

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.