Posts on the Topic Contributions

The Cyprus Tax Self-Assessment system allows individuals and companies to independently declare income, promoting transparency while requiring awareness of deadlines and tax obligations. It targets both residents with various income types and businesses, emphasizing the importance of accurate reporting to...

Cyprus offers a favorable tax environment for self-employed individuals, featuring a high personal income tax exemption threshold (€19,500), progressive rates, manageable social insurance contributions (16.6%), and access to public healthcare through GESY; understanding these systems ensures compliance while maximizing benefits....

The article discusses the importance of understanding and avoiding tax penalties in Cyprus, providing practical tips on key deadlines, common mistakes to avoid, accurate record-keeping, and seeking professional advice. It emphasizes that timely compliance with local laws can help individuals...

Moving to Cyprus involves understanding the local tax system, including residency rules and various taxes like income tax, VAT, and social insurance contributions. This article provides essential tips for expats on navigating Cypriot tax laws, from obtaining a Tax Identification...

Understanding the tax system in Cyprus is essential for financial planning, as it includes income tax with progressive rates, social insurance contributions from both employees and employers, a Special Contribution for Defense on certain incomes, and General Healthcare System (GHS)...