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Income Tax Rates for Individuals
The income tax rate for individuals in Cyprus is progressive, which means the tax rate increases as the level of income increases. The tax rates for the year 2022 are as follows:
- Up to €19,500: 0%
- €19,501 - €28,000: 20%
- €28,001 - €36,300: 25%
- €36,301 - €60,000: 30%
- €60,001 - €100,000: 35%
- Over €100,001: 35%
For Social Insurance Contributions the rate for the year 2022 is
- Employee: 5.85%
- Employer: 10.6%
Please note that these rates are subject to change and it's always recommended to check the official website of the Cyprus Tax Department or consult with a tax advisor to get the most up-to-date information.
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