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: ChargeableIncomeEUR € TaxRates% TaxAmountEUR € CumulativeTaxEUR € 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 …