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Employed Persons

Tax Free Income

  • Salary received up to Euro 19,500 (or Euro 21,500 if social insurance contributions are being paid on the whole amount).
  • Income from disposal of securities such as shares (say of a banking institution)

Tax Allowable Expenditure

  • Social Insurance contributions
  • Special contribution for defence and special tax payments
  • Expenditure incurred for the acquisition of shares in an innovative business
  • Donations to approved charities (supported with receipts)
  • Lump sum received by way of retiring gratuity, commutation of pension or compensation for death or injuries

Partially Tax-Free Income 

  • First Employment in Cyprus

Allows significant tax exemptions so please contact us as soon as you agree your employment with a local company.


  •  Rental income

Rental income is taxed twice; by the income tax and special defence tax at the rates of 80% and 75% respectively.


  • Income from Other Sources

Income from other sources should be added to the salary and then be taxed using the PAYE tax brackets.