The Cyprus Tax Regime

The Cyprus fiscal regime is predominantly based on two key tax laws:

  • The Income Tax Law of 2002
  • The Special Contribution for Defence Law of 2002 ( the SCDT Law)

However, any international tax planner utilising Cyprus must also be familiar with the legislation on legal entities, namely the Companies Law CAP113, and the legislation governing the formation and management of Cyprus International Trusts: The International Trust Law 1992 and The Trustees Law CAP193 of 1955.

A number of other laws have importance in corporate tax planning, as they address tax requirements such as:

  • Income tax for individuals 
  • Capital allowances 
  • Companies and other legal entities 
  • Special modes of taxation 
  • Special contribution for defence (SCD)
  • Profits from shipping activities
  • Capital gains tax
  • Immovable property tax
  • Estate duty
  • Maintenance of accounting books and records
  • Double tax treaties
  • Electronic submission of tax returns
  • Value added tax (VAT)
  • Social security contributions
  • Transfer fees for immovable property
  • Stamp duty
  • Companies registrar rights and fees
  • Stock exchange transaction tees
  • Taxation of collective and horse racing bets

Register or login to our Technical Resources Centre  and download the FREE our Tax Diary 2013 with detailed information on each one of the tax requirements listed above.