Cyprus

Paying Taxes in

Cyprus

Listed below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures of administrative burden in paying taxes.

The information appearing on this page was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 183 economies. The most recent round of data collection for the project was completed in December 2010.

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Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR
Corporate income tax 4 29 10.0% Taxable income 8.6
Social insurance 12 Paid jointly with other labor taxes 80 6.8% employee remuneration 7.7
Social cohesion fund 0 Paid jointly with social security contributions 2.0% employee remuneration 2.3
Redundancy fund 0 paid jointly with social security contributions 1.2% employee remuneration 1.4
Fuel tax 1 Fuel tax up to 16/6/2010 was EUR 0.245 per litre and as from 17/6/2010 fuel tax was increased to EUR 0.33 per litre Fuel consumption 1
Sewerage duty 1 0.5% of property market value as at 1 January 1980 market value of real estate 0.7
Industrial training fund 0 Paid jointly with social security contributions 0.5% employee remuneration 0.6
Capital Gains Tax 1 20.0% Capital gains 0.5
Interest tax 1 10.0% Interest income 0.3
Municipal taxes 1 Professional tax of EUR1,452 + municipality license fees of EUR 171 Fee schedules 0.1
Vehicle tax 1 EUR 299 0
Municipal property tax 1 0.25%(170,861-427,150);0.35%(427,151-854,300);0.4%(over 854,300) on 1 January 1980 values AND 0.15% on 1 January 1980 values market value of real estate 0
Refuse collection duty 0 Paid jointly with municipal taxes EUR 139 Fixed fee 0
Value Added Tax 4 40 15.0% Value of supply not included
Totals: 27 149 23.1
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