> ## Content Index
> Fetch the complete content index at: https://university.heavnn.io/llms.txt
> Use this file to discover other available public pages before exploring further.

# Personal Income Tax in Cyprus
- URL: https://university.heavnn.io/personal-tax-deductions-and-benefits-in-cyprus/
- Published: 2024-05-20T09:47:47.000Z
- Updated: 2024-05-20T09:47:47.000Z
- Author: Heavnn
- Tags: Cyprus, Country Tax Guides

Personal income tax in Cyprus is calculated based on the following steps, based on the Income Tax Law (Law 118(I)/2002) and subsequent amendments:

- Determine the individual's total taxable income for the tax year.
- Apply the applicable tax rates to the taxable income to calculate the tax liability.
- Deduct any eligible tax credits or deductions to arrive at the final tax payable.\]

Taxable income in Cyprus includes:

| Taxable Income (EUR) | Tax Rate (%) |
| -------------------- | ------------ |
| Up to 19,500         | 0%           |
| 19,501 - 28,000      | 20%          |
| 28,001 - 36,300      | 25%          |
| 36,301 - 60,000      | 30%          |
| Over 60,000          | 35%          |

- Employment income
- Rental income
- Interest income
- Dividend income
- Business profits
- Capital gains
- Pension income
- Foreign income for tax residents

Certain types of income are **exempt** from taxation in Cyprus, including:

- Dividends received from a Cyprus resident company (subject to conditions).
- Interest income (e.g., bank interest, government bonds).
- Profits from the sale of securities.
- Certain pension income.

⛰️

Access Heavnn's blend of professional expertise and cutting-edge technology by clicking the button below.

[Design Your Own Global Tax Setup](https://app.heavnn.io/start?ref=university.heavnn.io)