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Posts Tagged ‘Income Tax Exemptions’

Income Tax exemptions for Persons who Move to Cyprus for Employment - Clarifications by Tax Department

On 1 November 2022 the Cyprus Tax Department issued Tax Circular 10 of 2022, providing clarifications and examples on how the exemptions are applied in practice.

Electronic Submissions and Payment of Overdues to Social Insurance Department

The Cyprus Ministry of Labour and Social Insurance has recently announced the following in relation to electronic submissions and payments...

Exemption from Submission of Personal Income Tax Return for 2022

Individuals whose gross annual income is below €19.500 have been exempted from the obligation to submit a personal income tax return for the tax year 2022.

Further Improvement of Income Tax exemptions for Persons who Move to Cyprus for Employment

An amending law was published in the Official Gazette of the Republic of Cyprus with respect to the income tax exemptions for employment income, in relation to persons moving to Cyprus for employment. 

Incentives for Investing in Innovative SMEs – Extension of Application to Corporate Investors

The tax incentives for investing in innovative enterprises have been extended even further following a law approved by Cyprus Parliament recently. The extension concerns...

Increased Tax Deduction for Research and Development Expenses

An amendment to the Income Tax Law (the ‘Law’) was voted by the Cyprus Parliament on 7 July 2022 in order to allow for an increased tax deduction on...

Third Country Nationals Relocating to Cyprus – New Options

The Council of Ministers of the Republic of Cyprus recently approved new regulations permitting the issuance of immigration permits for third country nationals in the following cases...

Reduction on tax rate applied on interest on corporate and other bonds

On 26 of May 2022, the Cyprus Parliament approved an important amendment to the Special Contribution for Defense (“SCD”) Law, for what concerns taxation of interest income.

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