Employees are taxed to your every remuneration, as well as bonuses and you can particular a job positives inside the kind
A handful of important exemptions are available (pick Exempt earnings below). Employees are not taxed into the reimbursements getting company traveling and team activity costs. Pensions gotten out-of overseas to have functions rendered external Cyprus are nonexempt in the flat rate of 5% on the amounts over EUR step three,420 (the first EUR 3,420 try exempt). The newest taxpayer normally, although not, towards the an annual foundation, elect to be taxed on typical tax cost and you will rings establish for the Individual tax (PIT) on Taxation towards individual earnings point.
Self-functioning income/Company income- more than 50% of your foreign PE’s issues individually otherwise indirectly bring about financial support earnings, and
- the newest overseas income tax to the money of your international PE are somewhat below the new taxation load for the Cyprus [...]
