Paying Taxes in Cyprus

The table below addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year in Cyprus, as well as measures of administrative burden in paying taxes.

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Tax or mandatory contributionPayments (number)Notes on PaymentsTime (hours)Statutory tax rateTax baseTotal tax rate (% profit)Notes on TTR
Corporate income tax4 2910.0%Taxable income9.6 
Sewerage duty1 -5% of property market valueMarket value of real estate7.4 
Social security tax12Paid + filed for with all labour taxes below806.3%Employee remuneration7.1 
Property tax1 -2.5%(170,861-427,150);427,151-854,300);4%(over 854,300)Market value of real estate3.2 
Social cohesion fund0Paid + filed for jointly with social security-2.0%Employee remuneration2.4paid jointly
Redundancy fund0Paid + filed for jointly with social security-1.2%Employee remuneration1.4paid jointly
Fuel tax1 - € 0.2557 per litreFule consumption0.8 
Industrial training fund0Paid + filed for jointly with social security-0.5%Employee remuneration0.6paid jointly
Interest tax1 -10.0%Interest income0.5 
Municipal taxes1 -Professional tax of €1,452+municipal licence fees of €171)Ree schedules 0.1 
Vehicle tax1 -12800.0% 0 
Refuse collection duty1 -12100.0%Fixed fee0 
Value Added Tax4 4015.0%Value of supply not included
Totals:27 149  28.8 


Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.