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Payroll System

Cyprus has an attractive payroll system with Euro 19,500 tax free income, the largest in the EU and low Social Insurance Contribution cost for the employer of only 11.5% additional cost to the company. Together with the “First Employment in the Republic” rules Cyprus becomes very attractive for its low payroll cost.


FROM (€)FROM (€)TAX
19,500 0% 
19,500 28,000 20% 
28,000 36,300 25% 
36,300 60,000 30% 
over 60,000 
35%