Cyprus TAX & VAT & Other Information
A&C CHRISTOFI LTD, a professional services company, through its knowledge, experience, and people, offers to its clients, both local and international, a broad range of fully integrated and high-quality services. We operate under the moto that “Your Business is Our Concern”. Cyprus is known world-wide for the advantages that it offers both individuals and corporations, mainly from tax perspective.PERSONAL INCOME TAX
An individual is a tax resident in Cyprus if he/she is physically present in Cyprus for an aggregate period exceeding 183 days.
Read MoreSPECIAL CONTRIBUTION
Individuals and pensioners working in Cyprus have the responsibility to pay taxes according to their monthly special.
Read MoreIMMOVABLE PROPERTY TAX
The registered owner is liable for this annual tax which is based on the market value of the immovable property.
Read MoreDEFENCE CONTRIBUTION
The special contribution for defense applies only to income earned by Cyprus tax residents. Non-tax residents are exempt from special contribution for defense.
Read MorePROPERTY TRANSFER FEES
The purchaser will be liable to pay the following transfer fees for the property acquired when this is registered in his/her name at the Land Registry Office.
Read MoreCORPORATION TAX
A company managed and controlled in Cyprus is considered a tax resident and is liable to tax on income arising both from sources within and outside Cyprus.
SHIPPING
As from 24th March 2010, the Tonnage Tax System (TTS) was introduced with the Merchant Shipping (Fees & Taxing Provisions) Law 44(I) of 2010 .
Read MoreCAPITAL GAINS TAX
Capital Gains Tax is charged at the rate of 20% on gains arising from the disposal of immovable property located in Cyprus, pursuant to local regulations.
Read MoreCOMPANY REGISTRAR
To maintain good reputation, companies are registered in the Companies Registry. Since June 2011, all companies are registered in Cyprus .
Read MoreINHERITANCE TAX
Inheritance Tax has been abolished with effect from 1st January 2000, and is no longer imposed.
Read MoreSTAMP DUTIES
There are several documents on which a duty needs to be paid to the Tax Authorities.
Read MoreSOCIAL INSURANCE
Social insurance Contribution (SICs) are payable by the employer, employees, and self-employed persons.
Read MoreTRUST AND FUNDS
A trust is established by an individual and is a means whereby property is held by one or more persons for benefits .
Read MoreTAX SUBMISSION DATES
Payment of tax withheld in the preceding month on payments to non-Cyprus residents.
Read MoreVALUE ADDED TAX
Taxable persons charge VAT on their taxable supplies (output VAT) and are charged.
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