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Exemptions
Details Individuals Other Persons

Income from interest. Interest accruing to any person from the ordinary carrying on of any business including any interest closely connected with the ordinary carrying on of the business, is not exempted, but included in the calculation of profit

100% 100%
Dividends 100% 100%

Remuneration from any office or employment exercised in Cyprus by an individual who was resident outside Cyprus before the commencement of his employment. This exemption applies for a period of three years commencing from 1 January following the year of employment’s commencement. For employments that start during or after 2012 the exemption applies for a period of 5 years starting from the year following the year of commencement of the employment. This exemption applies for up to 2020. This exemption may not be claimed in addition to the immediately below mentioned 50% exemption for employment income.

20% of the remuneration with a maximum amount of €8.550 annually

Remuneration from any office or employment exercised in Cyprus by an individual who was resident outside Cyprus before the commencement of his employment. The exemption applies for a period of 10 years for employments starting as from 1 January 2012 provided that the annual remuneration exceeds €100.000. This exemption does not apply if for employments starting as from 1 January 2015 the individual was a Cyprus tax resident for 3 (or more) tax years out of the 5 tax years immediately prior to the tax year of commencement of the employment nor in the preceding tax year. 50% of the remuneration
Profit from the sale of securities 100% 100%

Profit from a permanent establishment situated outside Cyprus, unless the permanent establishment - directly or indirectly - engages more than 50% in activities, which lead to investment income, and the foreign tax burden is substantially lower than the tax burden in Cyprus (practically < 5% headline tax). From 1 July 2016, taxpayers may elect to tax the profits earned from a foreign permanent establishment, and apply for a tax credit for the foreign taxes incurred on the foreign permanent establishment profits.

100% 100%

Remuneration from the tendering outside Cyprus of salaried services for a total aggregate period in the year of assessment of more than 90 days to an employer not resident in Cyprus

100%

Foreign exchange (FX) gains both realized and unrealized, except from FX gains arising from the trading in foreign currencies and related derivatives.

100%

Deposits with the Cyprus Housing Finance Corporation (up to 25% of total gross income for schemes which started up to 30 April 2003)

40%

Lump sum payments on retirement or pension’s commutation, or a gratuity on death.

100%

Capital sums from life insurance or approved provident funds

100%
Income from scholarship or other educational endowment 100%

Income of any religious, charitable or educational institution of a public character

100%

Income of any co-operative society in respect of transactions with its members

100%

Emoluments from an institution’s foreign officers exercising educational, cultural or scientific function

100%

Emoluments of foreign diplomatic and consular representatives, if not citizens of Cyprus

100%
Income of any local authority 100%

Income of any approved pension or provident fund or any insurance fund

100%

Income of any company formed exclusively for the purpose of promoting art, science or sport

100%
Pensions and special grants under special legislation 100%
Widow’s pensions 100%

For more detailed information about Income Tax, please either scroll up or down this page (quicker) or click below to go to the relevant section:

Tax Charge | Definition | Exemptions | Capital Allowances | Individuals' Deductions | Companies' Deductions | Not - Allowed Deductions | Individuals Tax Rates | Corporate Tax Rates | Special Tax Rates | Tax Losses

For more detailed information about the Tax Law - Tax Facts, please either use the main menu on the left or click below to go to the relevant section (quicker):

Income Tax | Defence Fund Contribution | Social Cohesion Fund | Social Insurance | Capital Gains Tax | Immovable Property Tax | Stamp Duty | Stock Exchange Special Levy | Value Added Tax | Ship Management Services | Shipping | Double Taxation Agreements | Tax Calendar


Contact one of our officers to initiate the incorporation of a Cyprus registered company and start reaping the full benefits of an onshore, low-tax, EU jurisdiction. Simply fill in the contact box below or contact us by email on enquiries@fbscyprus.com
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