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%

Please note that this information is 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.

For Social Insurance Contributions the rate for the year 2022 is

  • Employee: 5.85%
  • Employer: 10.6%

As for Capital Gains Tax, the rate for the year 2022 is 20%

For Inheritance Tax, there is no inheritance tax in Cyprus for individuals and for Property Tax the rate for the year 2022 is 0.05%

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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