Posts Tagged ‘Income Tax Exemptions’

Application for Cyprus Citizenship Based on New Provisions

On 22 March 2024, the Ministry of Interior announced further clarifications regarding the amended provisions of the Civil Registry Law regarding naturalisation.

Reference Interest Rates for 2024 for Notional Interest Deduction on Equity

The Cyprus Tax Department published on 7 March 2024 the bond yield rates as at 31 December 2023 for a number of countries, to be considered for the Notional Interest Deduction to which equity injected in to Cyprus companies...

Employer’s Return – New Submission Procedure

As announced by the Tax Department on 21 February 2024, as part of the gradual implementation of the Tax For All platform, the Withholding Taxes and Contributions Return...

Reduction of Special Contribution for Defence on Interest Income

Through an amendment approved by the Cyprus Parliament on 6 December 2023, the Special Contribution for Defence rate on interest income has been reduced from 30% to 17%.

Cyprus Citizenship – Special Provisions for Highly Skilled and Qualified Individuals

On 30 November 2023, the Cyprus Parliament approved an amendment of the Civil Registry Law , modernising the current legal framework and relaxing the requirements and criteria for naturalisation of foreign nationals...

Changes in Employment Contributions for 2024

As from 1 January 2024, the Social Insurance Contribution rates for each of the employer and the employee are increased by 0,5% and for self-employed individuals by 1%.

Further Extension of Deadline for Submission of Personal Income Tax Return for 2022

The Cyprus Tax Department announced on 25 September 2023, that the deadline for submission of the Income Tax Return for employees, pensioners and...

Important Amendments on 50% Income Tax Exemption

On 22 June 2023 the Cyprus Parliament approved further amendments to the Income Tax Law in relation to this incentive.

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