Tax Law Update: New top rate for Cyprus personal income tax
A 35% income tax rate has been introduced for taxable income in excess of €60,000.
The tax bands and rates are therefore now as follows:
| Chargeable Income EUR € |
Tax Rates % |
Tax Amount EUR € |
Cumulative Tax EUR € |
|---|---|---|---|
| 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 €60,001 | 35 |
Pekris & Theodorou LLC is a Cyprus law firm with Cyprus lawyers and other legal experts on legal matters involving Cyprus law, EU law and international law. The above should be used as a source of general information only. It is not intended to give a definitive statement of the law and is subject to the disclaimer.
Further Tax Law related information is available here.
