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The rate of Social insurance contributions is applied to a maximum level of emoluments. The maximum level of emoluments for 2023 is €60.060 (weekly €1.155/monthly €5.005...

Cyprus is a member of the EU and the Eurozone, and consistently aligns its legislation with the acquis communautaire.

As part of the new tax package on fair and simple taxation, in July of 2020 the European Commission proposed the amendment of the EU Council Directive 2011/16 on Administrative Cooperation...

Cyprus has steadily strengthened its tax framework in line with evolving international standards on transparency, substance, and anti-avoidance.

The main purpose of DAC6 is to strengthen tax transparency and fight against aggressive tax planning.

On 21 March 2018, the European Commission (EC) published its EU digital tax package on the taxation of the digital economy which consists of four main parts.

According to the Income Tax Law, the term "resident of the Republic" includes – in addition to persons who reside for 183 days in Cyprus – persons who...

Negotiations between the governments of Cyprus and Latvia on a new double taxation agreement, which began in 2006, appear to be reaching the final stages.

Special Contribution for Defence (SDC) is imposed on income earned by Cyprus tax residents. Non tax residents are exempt from SDC.

The changing regulatory requirements, global tax reforms and initiatives such as the Base Erosion and Profit Shifting (BEPS) action plan undertaken by the OECD raise important questions...

On October 31, 2023, the Tax Department announced a new measure introducing a zero VAT rate on a range of essential items, effective from November 4, 2024, through December 31, 2025.

The European Union, after a lengthy process, has announced on the 5th December 2017 its first Tax Havens Blacklist,

The European Council on 20 February 2024 decided to remove the Bahamas, Belize, Seychelles and Turks and Caicos Islands from the EU list of non-cooperative jurisdictions for tax purposes.

The Tax Department of Cyprus issued a Circular (1/2022) on the 1st of February 2022, through which it clarifies the tax treatment of the tax residency of a physical person in Cyprus based on the 60-days rule.

The Cypriot Ministry of Finance (MoF) submitted to Parliament two bills for amending the tax legislation, with the purpose of strengthening the Cyprus tax framework for the prevention of tax abuse, tax evasion and tax avoidance.

On January 13, 2025, the Tax Department announced an important update regarding the submission of the Employer's Tax Return (T.D.7). Beginning in the first half of 2025...

Cyprus Notional Tax Deduction (NID) is a deduction against taxable profit calculated by applying a "reference interest rate" to new equity injected into companies and used by companies for the performance of its activities under certain conditions and constraints.