Employment Income Tax Exemption
Posted: Wed Feb 19, 2025 8:49 am
Individuals can also take advantage of the exemption from taxation of capital gains, other than on the sale of immoveable property in Cyprus.
In addition, there is an exemption from taxation on capital sums received from pensions, provident and insurance funds as well as several other tax advantages, including; a low rate of tax on foreign pension income, and no wealth or inheritance taxes in Cyprus.
The zero tax benefits, mentioned above, are enjoyed even if the income has a Cyprus source and/or is remitted to Cyprus.
There is a 50% exemption from taxation, for income for ‘first time’ employment in iceland mobile database Cyprus, for individuals with an annual remuneration income of over €55,000.
This exemption is available for a period of up to 17 years.
Tax Exemption on Income from Employment Outside Cyprus
Individuals who are employed outside of Cyprus, for more than 90 days in aggregate in a tax year, by a non-Cyprus tax resident employer or foreign permanent establishment of a Cyprus tax resident employer, are exempt from income tax on this income.
In addition, there is an exemption from taxation on capital sums received from pensions, provident and insurance funds as well as several other tax advantages, including; a low rate of tax on foreign pension income, and no wealth or inheritance taxes in Cyprus.
The zero tax benefits, mentioned above, are enjoyed even if the income has a Cyprus source and/or is remitted to Cyprus.
There is a 50% exemption from taxation, for income for ‘first time’ employment in iceland mobile database Cyprus, for individuals with an annual remuneration income of over €55,000.
This exemption is available for a period of up to 17 years.
Tax Exemption on Income from Employment Outside Cyprus
Individuals who are employed outside of Cyprus, for more than 90 days in aggregate in a tax year, by a non-Cyprus tax resident employer or foreign permanent establishment of a Cyprus tax resident employer, are exempt from income tax on this income.