Nicosia reduces tax on solar glass

What would happen if Cyprus had a tonnage tax regime?

The Cyprus Tonnage Tax regime has EU State aid approval. The retention of these provisions would be welcome. Abolition of the 1,5% insurance premium tax (IPT). IPT effectively functions as a minimum corporate income tax in relation to life insurance. Its abolition would be a welcome development. First €20.500 at 0% From €20.501 - to €30.000 at 20%

How long is a non-domicile tax exemption in Cyprus?

The period of eligibility will increase subject to payment of an annual fee. The non-domicile regime effectively means that eligible individuals are exempt from taxation in Cyprus on their local and foreign (i.e. worldwide) dividend income and passive interest income. The current maximum period of eligibility is 17 years.

What is ex gratia & golden-hello taxation in Cyprus?

Taxation of ex-gratia payments (above a certain amount) and golden-hello payments in relation to employment income (with full deduction for the employer). The exempt amount of ex-gratia payments is yet to be determined. Abolition of the Deemed Dividend Distribution (DDD) provisions. This abolition would modernise the Cyprus tax system.

Who qualifies for a Cyprus tax exemption?

This exemption relates to individuals that satisfy the criteria for the exemption; these include, inter alia, a condition that the individual earns more than €55.000 per annum from a first employment in Cyprus and was previously not a tax resident of Cyprus for a certain period.