(1) In the case that the dividends are received from a company where the shareholders hold directly at least 1% of the share capital, then the dividends are exempt from the payment of special contribution.

This exception does not apply if:

• The company paying the dividend engages more than 50% in activities that lead to investment income, and
• The foreign tax burden on the income of the company paying the dividend is substantially lower than the tax burden of the company that receives the dividend.

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

Rates | Refund | Foreign Tax Allowance | Deemed Distribution

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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

An individual, - whose annual income, including interest - does not exceed the amount of ₤7.000, has the right to a refund of the tax withheld on interest in excess of the amount corresponding to 3%.

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

Rates | Refund | Foreign Tax Allowance | Deemed Distribution

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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

In case that foreign tax was paid on income subject to special contribution, this can be given as an allowance against the special contribution payable on the income, irrespective of the existence of a double taxation relief with the foreign country.

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

Rates | Refund | Foreign Tax Allowance | Deemed Distribution

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

A company resident in Cyprus has to pay 15% special contribution to the defence fund based on a deemed distribution of 70% of the accounting profits after taxation and before set-off of losses brought forward from previous years; after taking into consideration any dividends paid within the two years and which relate to residents of Cyprus (Non - Resident Beneficial Shareholders are exempt).

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

Rates | Refund | Foreign Tax Allowance | Deemed Distribution

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