50% Expatriate Relief on Employment Income: Guidance
The Cyprus Tax Department issued Circular 4/2024 in July 2024, regarding the exemption from income tax of 50% of the remuneration from employment exercised in Cyprus, as per the amended Article 8(23A) of the Income Tax Law. We were writing about the new expatriate relief (introduced on 30 June 2023) in our article: https://ibccs.tax/50-expatriate-relief-on-employment-income-in-cyprus-new-tax-incentive-law-now-published/ The […]
Blue Card in Cyprus
On 11 July 2024 the Cypriot Parliament approved a new law regarding the implementation of the EU framework for Blue Cards – a work and residence permit for highly qualified third-country nationals. The law is now expected to be published in the Official Gazette of Cyprus. Highly qualified individuals The Blue Card is a […]
Personal Tax Return 2023
The submission of the income tax returns for individuals in Cyprus (form IR1) for the year 2023 is now available via TaxisNet portal. The deadline for submitting tax returns and paying income tax for the tax year 2023 is on 31 July 2024. Why do you need to file IR1? All tax resident in Cyprus […]
Amendment to the Special Defence Contribution Law
Special Contribution for Defence (SDC) is dictated on income earned by Cyprus tax residents. On 9 June 2023, amendments to the Special Contribution for the Defence Law were published in the Cyprus Government Gazette amending the obligation to pay the SDC withheld on rents in two semi-annual installments instead of monthly payments. Every person who is obliged […]
Personal Tax Return 2022 – TaxisNet portal is now open
The submission of the income tax returns for individuals in Cyprus (form IR1) for the year 2022 is now available via TaxisNet portal. We would like to remind you that the deadline for the submission of the 2022 Personal tax return has been extended until 2 October 2023, as per the decree (No.183/2023) issued on 9 […]
New Non-Domiciled Rules in Cyprus
Forward As part of the overall exertion to improve Cyprus’ attractiveness as an international business and financial center, and in order to remain highly compliant as a traditional jurisdiction, the House of Representatives on 16 July 2015 passed a number of new laws. One of the changes, introduced the new status of a “non-domicile” (non-dom) […]
