Income Tax Rates

Calculating your income tax

Current personal income tax rates in Cyprus are as follows:

Taxable Income (€)

Tax Rate (%)

Cumulative tax (€)

Up to 19,500

0

 

19,501 – 28,000

20

1,700

28,001 – 36,300

25

3,775

Over 36,300

30

 
 

Foreign pensions and property income are taxed at different rates.

Deductions

Before you’re liable for income tax, you can subtract certain deductions from your gross income, including the following:

In order to claim deductions relating to personal expenditure or family circumstances, it’s usually necessary to produce receipts.

Cash Grants

Under the 2003 tax reforms, tax allowances were either abolished or replaced by cash grants, as follows:

Child Grant – All families resident in Cyprus which have a gross family income below the threshold are entitled to a basic child grant and a supplementary grant.

Higher Education Grant – €2,563 per annum for each child receiving full-time higher education in Cyprus or at a foreign university;

Blind Grant – €3,417 per annum for blind people.


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