Cyprus - Overview and introduction | KPMG Global
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Cyprus - Overview and introduction

Cyprus - Overview and introduction

Taxation of international executives


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A person’s liability to Cyprus tax is determined by his/her 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 are also subject to Social Insurance Contributions.

The official Cyprus currency is the Euro (EUR).

Herein, the host country refers to the country where the expatriate is going on assignment. The home country refers to the country where the expatriate lives when s/he is not on assignment.

© 2019 KPMG Limited, a Cyprus limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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