I would like to welcome you to Deloitte's annual Cyprus tax facts.
Cyprus tax facts has proven to be a useful tool for all businesses and individuals wishing to have up to date information on the tax environment in Cyprus.
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Imposition of tax
Where an individual is tax resident in the Republic of Cyprus (the Republic), tax is imposed on income accruing or arising from sources both within and outside the Republic.
Where an individual is not tax resident in the Republic, tax is imposed on income accruing or arising only from sources within the Republic.
Tax resident in the Republic is an individual who is present in the Republic for a period exceeding 183 days in a tax year.
For the purpose of calculating the days of presence in the Republic:
- the day of departure from the Republic is considered to be a day out of the Republic
- the day of arrival into the Republic is considered to be a day in the Republic
- the arrival into the Republic and departure from the Republic on the same day is considered to be a day in the Republic and
- the departure from the Republic and return to the Republic on the same day is considered to be a day out of the Republic.
Deloitte Cyprus Tax Facts 2014
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.