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Not - Allowed Deductions
  • Expenses and Disbursements not wholly or exclusively paid for acquiring the income
  • Expenditure which is not supported by appropriate supporting documentation as required by the relevant Regulations
  • Expenses of a private motor vehicle – whole amount
  • Expenses of business entertainment, including hospitality of any kind, made in connection with a business and that exceeds 1% of the gross income of the business. In case that these expenses do not exceed 1% of gross income, then the allowable deduction is up to a maximum of ₤17.086
  • Interest applicable to the cost of purchase of private motor vehicle irrespective of whether it is used in the business or not, or any other asset not used in the business. This provision does not apply after the lapse of seven years from the date of purchase of the relevant asset
  • Wages and salaries for services offered within a tax year on which social insurance or other contributions have not been paid in the year in which they were due.
  • Domestic or private expenses including the cost of travelling between the place of residence and the place of work
  • Rent of premises owned and used by the person carrying on of a business
  • Remuneration of interest on capital paid or credited by the person carrying on business
  • Cost of goods taken out of the business for private use
  • Any sum employed or intended to be employed as capital
  • Expenditure for improvements, alterations or additions to immovable property
  • Sums recoverable under an insurance or contract of indemnity
  • Rent or cost of repairs of premises not incurred for the purposes of earning the income
  • Taxes
  • Payments of a voluntary nature

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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