Tax AdvantagesProperty Legal Information
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 (EURO) |
Tax Rate (%) |
Accumulated tax (EURO) |
| 0 - 17,086 |
- |
- |
| 17,087 - 25,629 |
20 |
1,000 |
| 25,630 - 34,172 |
25 |
2,250 |
| over 34,173 |
30 |
|
Retirees who become residents in Cyprus are taxed on their pensions from abroad at the rate of 5% per annum while an exemption of the first €3,417 is granted. Additionally, Cyprus has Double Taxation treaties with many European and other countries, safe-guarding its residents from paying tax in both coun-tries. This gives the option to the citizens of those countries to take advantage of the very low rate in Cyprus.
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