DID YOU STAY IN THE REPUBLIC FOR A PERIOD OR PERIODS EXCEEDING IN AGGREGATE 183 DAYS? If your answer is YES, you should declare your WORLDWIDE income in this Return. If your answer is NO, you should only declare your income arising in Cyprus.
Trade, Industry, Profession etc.
€
Income from Partnership
€
Profit from sale of securities
€
Salaried services and benefits in kind
€
Pensions
€
Rental Income
€
Rent of Preserved Building
€
Interest receivables
€
Dividends
€
Redemption of life insurance policies
€
Income from a permanent establishment abroad (>90 days)
€
Any other income
€
TOTAL INCOME
€
Interest receivables
€
Dividends
€
Widow pension
Widow pension:
If granted under the Social Insurance Laws or in accordance with any pension scheme approved under regulations
€
Lump sum received from retiring,life insurance etc.
Lump sum received:
* Lump sum received as retiring gratuity, commutation of pension, death gratuity or as consolidated compensation for death or injury
* Lump sum repayment from life insurance schemes or from approved provident funds
* Lump sum repayment from life insurance schemes or from approved provident funds
€
Profit from sale of securities
€
Rent of Preserved Building
€€
Income from a permanent establishment abroad (>90 days)
€
Are you entitled to the 20% allowance due to first employment in Cyprus?
First Employment:
Remuneration from any office or employment exercised in the Cyprus by an individual who was resident outside the Cyprus before the commencement of his employment then an exemption of 20% of the remuneration with a maximum amount of €8.550 annualy is allowed. The exemption applies for a period of three years from 1st January following the year of commencement of his employment.
Amount allowed
€
Are you entitled to the 50% allowance due to first employment in Cyprus?
Amount allowed
€
TOTAL EXEMPTIONS
€
Trade union contributions
€
Professional subscriptions
€
Donations to approved charitable organisationsCapital allowancesExpenses for the maintenance of buildings under preservation order
Attach certificates / receipts only for donations over €300. For donations of a lesser amount you should keep the certificates / receipts to submit when requested
€
20% of Rental income
€
Interest on rented property
€
Interest for the acquisition of fixed assets
€
Capital allowancesExpenses for the maintenance of buildings under preservation order
If financial statements are prepared by the individual
€
Loss of current year and previous years
€
Expenses for the maintenance of buildings under preservation order
Up to €700, €1.100 or €1.200 per sq. m. (depending on the size of the building)
€
Other Deductions
€
TOTAL DEDUCTIONS
€
TOTAL NET INCOME
€
Social insurance fund contributions(Salary x 8.3%)
€
National Health System(2.65%)
€
Provident fund contributions
€
Private Medical fund
Maximum 1% of remuneration
€
Life insurance premiums
€
Sum assured
€
Calculated Life insurance premiums
€
Other allowances
€
TOTAL ALLOWANCES
€
TOTAL TAXABLE INCOME
€
Income tax payable
€
Special Defence Contribution
€
Interest receivables
€
Dividends
€
Rental Income
€
TOTAL TAX PAYABLE
€
Any foreign taxes paid on income subject to income tax will be credited against your income tax payabe.
PERSONAL TAX RATES
| Chargeable income (€) | Tax rate (%) | Accumulated tax (€) |
|---|---|---|
| 0 - 19.500 | Nil | Nil |
| 19.501 - 28.000 | 20 | 1.700 |
| 28.001 - 36.300 | 25 | 3.775 |
| 36.301 - 60.000 | 30 | 10.885 |
| Over 60.000 | 35 |
Foreign pension is taxed at the rate of 5%. An annual exemption of €3.420 is granted.