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Capital Allowances

Details Annual Wear & Tear Allowance %
Industrial buildings 4
Agricultural buildings 4
Commercial buildings 3
Hotel buildings 4
Machinery, plant and furniture 10
Machinery and equipment of agricultural and animal husbandry business 15
Computer hardware and operating software 20

Application software

-Up to 1.709
-Over 1.709

33 1/3
Tools 33 1/3
Tractors, excavators, trenches, cranes, and bulldozers 25
Motor cars (except saloons) and motorcycles 20
New Cargo Ships 8
New Passenger Ships 6
Second hand cargo and passenger ships and additional expenditure

The cost is written off over the expected useful life of the ship based on the certificates issued by the Shipping Registry Organization

Sailings vessels 4 1/2
Ship launching machinery 12 1/2
Used ships In accordance with special agreement

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
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