search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
CAPI TAL HUB CYPRUS


CYPRUS TAX RESIDENCY IN 60 DAYS


L 78


ast year, the Cypriot House of Representatives voted into law the revised criteria for determining the tax residency of individuals in Cyprus. Specifically, a second test


was added in addition to the 183 day rule for individuals who do not spend more than 183 days in Cyprus or another jurisdiction. As per the new test, all of the following three criteria should be met for an individual to be considered a Cyprus tax resident: • Remains in Cyprus for at least 60 days in the year of assessment


• Carries out any business in Cyprus and/or is employed in Cyprus and/or holds an office to a person resident in Cyprus at any time during the year of assessment


• Maintains a permanent residence in Cyprus, either owned or rented by such individual The main purpose of the law is to


allow an individual who does not remain in any other state for one or more periods, which do not exceed 183 days in total, within the same year of assessment and who is not a tax resident in any other state for the same


CAMPDENFB.COM


year of assessment, to be considered as a resident of the Republic of Cyprus. An individual who is considered a Cyprus


tax resident is taxed on their worldwide income under Cyprus tax. Currently the income tax rates in Cyprus are as follows:


TAX BASE (EUR) UP TO €19,500


€19,501 TO €28,000 €28,001 TO €36,300 €36,301 TO €60,000 OVER €60,000


TAX RATE (%) 0%


20% 25% 30% 35%


Individuals who are Cyprus tax residents but


are not domiciled in Cyprus are exempt from special defense contributions which are levied on dividends, interest, and rental income. The following tax incentives exist for


individuals employed in Cyprus who were previously not tax residents: • The lower amount of either €8,550 or 20% of the remuneration from any office or employments exercised in Cyprus is exempt for a period of five years (this incentive will expire in 2020)


• For individuals with employment income exceeding €100,000 per annum, a 50% tax exemption exists which can be enjoyed for a period of 10 years.


Content provided by Eurofast - Please find Eurofast disclaimer at eurofast.eu/disclaimer


Contact us to inquire if you are eligible for a Cyprus tax residency: Maria Nicolaou E: maria.nicolaou@eurofast.eu Nicosia, Cyprus Tel: +357 22699222


All of the following three criteria should be met for an individual to be considered a Cyprus tax resident:


• Remains in Cyprus for at least 60 days in the year of assessment


• Carries out any business in Cyprus and/or is employed in Cyprus and/or holds an office to a person resident in Cyprus at any time during the year of assessment


• Maintains a permanent residence in Cyprus, either owned or rented by such individual


Individuals who are Cyprus tax residents but are not domiciled in Cyprus are exempt from special defense contributions which are levied on dividends, interest, and rental income


ISSUE 74 | 2018


QUICK VIEW


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112
Produced with Yudu - www.yudu.com