Income Tax Calculator
Easily calculate your Cyprus Income Tax
The Cyprus Income Tax Calculator (“This form”) is not a legal or Tax advice and no one should rely on it. This form has been prepared as a general guide for information purposes only as many other tax aspect should be taken into account. Please note that it is not a substitution for professional advice or an advice at all. One must not rely on the Income Tax Calculator without receiving independent advice based on the particular facts of his/her/its own case. No responsibility can be accepted by the authors or the company for any loss occasioned by acting or refraining from acting on the basis of this publication.
Individual resident in Cyprus are liable to income tax in accordance with the Income Tax Law ( Law No. 118(I) of 2002 , as amended) in respect of their worldwide income. An individual is resident in Cyprus, if he/she resides therein for a period or more which in aggregate exceed 183 days. Non- tax residents are liable to tax in respect of Cyprus source income only.
The income tax can be collected by the tax department in two ways – either deducted from your income before given to you, or paid by you directly to the Tax Department. In the case of employment income, the employer deducts the tax from your salary, under the Pay As You Earn (PAYE) system, and pays the net amount to you.
When you receive money from employment, you may need to pay income tax and social insurance. How much income tax you pay depends on your earnings, tax exemptions, allowable deductions and the applicable tax rates.