Cyprus Personal Income Tax 2019

 

Cyprus is unique when it comes to the taxation aspects of living on the island. The following income tax rates apply to individuals:

Chargeable income (€)	Tax Rate (%)	Tax Amount  (€)	Cumulative Tax (€)
0 – 19.500	-	-	0
19.501 – 28.000	20	1.700	1.700
28.001 – 36.300	25	2.075	3.775
36.301 - 60.000	30	7.110	10.885
over 60.000	35

 

Retirees who become residents in Cyprus are taxed on their pensions from abroad at the rate of 5% per annum while an annual exception for the first €3.420 is granted. Additionally, Cyprus has established Double Taxation treaties with the majority of European and non-European countries, safe-guarding that its residents will avoid paying tax in both countries. This gives the option to the citizens of these countries to take advantage of the very low rates in Cyprus.