Individual taxation - Cyprus Tax Highlights 2024
Individual taxation - Cyprus Tax Highlights 2024
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Cyprus tax residents are taxed on all chargeable income accrued or derived from all sources in Cyprus and abroad. Non-tax residents are only taxed on their income accrued or derived from sources in Cyprus. Certain types of income are subject to SCD
(See article on the taxation of investment income https://shiakas.com/taxation-of-cyprus-investment-income/)
Taxation of Cyprus investment income
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Corporate Income Tax (CIT)
All companies that are tax residents of Cyprus are taxed on their income accrued or derived from all sources in Cyprus and abroad.
The standard CIT rate in Cyprus is 12.5%.
Interest received by companies in the ordinary course of their business, including interest closely connected to the ordinary course of...