Taxation of Individuals, CyprusMarch 23rd, 2022 Posted by kalegalservices Uncategorized 0 thoughts on “Taxation of Individuals, Cyprus”
Brief summary of the Cyprus Tax system for individuals residing from abroad
A physical person’s liability to Cyprus tax is determined by their residence status for taxation purposes. The general rule applying for the tax basis of an individual is that where the individual is considered a tax resident in the Republic, tax is imposed on his/her income accruing or arising from sources all over the world (both within and outside the Republic). On the other hand, where the individual is not a tax resident in the Republic, tax is imposed on his/her income accruing or arising only from sources within the Republic.