Individual Tax exemptions

Individuals who are considered tax residents of Cyprus may be eligible for certain exemptions based on their status as a resident. For example, the first €19,500 of income earned by an individual is tax-free for the year 2022.

Cyprus tax residents may be eligible for tax credits for certain expenses such as mortgage interest, medical expenses, and charitable donations.

Cyprus has signed double taxation agreements with several countries to avoid double taxation of income earned by residents of those countries. Cyprus residents who earn income from these countries may be eligible for certain tax exemptions under these agreements.

Cyprus tax residents may be eligible for an exemption from tax on rental income from property located in Cyprus if they meet certain conditions.

Cyprus tax residents may be eligible for an exemption from tax on interest income if they meet certain conditions.

Cyprus tax residents may be eligible for an exemption from tax on dividends if they meet certain conditions.

Cyprus tax residents may be eligible for an exemption from tax on stock options if they meet certain conditions.

It is important to note that these exemptions are subject to specific conditions and limitations, and individuals should seek legal and financial advice to determine their eligibility and to ensure compliance with all relevant tax laws and regulations.