ARTICLE · 29 MARCH 2023

NID Reference Interest Rates 2023

KPMG in Cyprus

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The Cyprus Tax Department announced the interest yields of the 10-year government bonds for a number of countries as listed below as at 31 December 2022.

CyprusTax

George Markides

Katerina Papanicolaou

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The Cyprus Tax Department (CTD) announced the interest yields of the 10-year government bonds for a number of countries as listed below as at 31 December 2022. The interest yields of the 10-year government bonds increased by 5%, represents their "reference rate" for the purposes of granting tax allowance on new capital as per article 9B of the Income Tax Law N.118(I)/2002, as amended.

By way of background, the NID reference rate constitute the interest rate of the 10 year government bond yield of the country in which the new equity is invested (as at 31^st December of the previous tax year), increased by 5%.

NID reference rates are as follows:

31/12/2022

NID Reference Interest Rate 2023

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