Taxation of international executives
A person’s liability to Cyprus tax is determined by their residence status for taxation purposes.
The general rule is that a person who is a resident of Cyprus is assessable on worldwide income. A person who is a non-resident is only assessable on income accruing or arising from sources in Cyprus.
Net taxable income is taxed at graduated rates ranging from 20 percent to 35 percent. Non-cash benefits provided to employees are included in the employees’ income and subject to income tax. Persons exercising employment in Cyprus may also be subject to Social Insurance Contributions.
The official Cyprus currency is the Euro (EUR).
Herein, the host country/territory refers to the country/territory where the expatriate is going on assignment. The home country/territory refers to the country/territory where the expatriate lives when they are not on assignment.
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