TAXES IN CYPRUS
Taxation
If you live in Cyprus for more than 183 days in the year, you will be considered a resident for tax purposes. This means that you will be taxed in Cyprus on your worldwide income. If you’re a salaried worker, your tax will be deducted by your employer.
Personal tax rates:
Start at 20 per cent (between CY£10,000 and 15,000), move up to 25 per cent between (CY£15,000 to 20,000) and the highest tax rate is 30 per cent for those whose earnings are over CY£20,000.
Retirees
Only 5 per cent tax on income over CY£2,000.
Non-residents
Pay tax at the same rate as residents, but only have to pay tax on income or benefits earned in Cyprus. This will include rental income from any property lettings