Corporation Tax Rates

KPMG has been operating in Cyprus since 1948 and currently employs more than 800 professionals working from 6 offices across the island. It is a member of KPMG International Limited, a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG operates in 143 countries and territories and has approximately 273,000 people working in member firms around the world. Clients look to KPMG for a consistent standard of service based on high-order professional capabilities, industry insight, local knowledge and expertise.

Explore Firm Details

Cyprus Accounting and Audit

Companies are subject to corporation tax at the following rates:


                 Chargeable                        Tax
                 income                            rate
                   C£                              %
              Under 40.000                         20
              Over  40.001                         25

Companies are also subject to an additional tax at 10 % on their chargeable income before the deduction of:

losses brought forward

the additional deduction for the employment of unemployed graduates

the investment allowances

and after the deduction of the income subject to corporation tax at the above rates.

Offshore companies and branches of overseas companies registered in Cyprus and deriving their income from sources outside Cyprus are taxed at 4,25%. The profits of offshore partnerships and branches which are not managed and controlled from Cyprus are free of tax.

This information was correct in July 1997.

The contents of this article are intended to provide a general guide to the subject matter. Specialist advice should be obtained before any action is taken.

See More Popular Content From

Corporation Tax Rates

Contributor

Accounting and Audit

Contributor

Cyprus