The Cyprus Tax office announced the 10-year government bond yield rates as at 31/12/2020 for a number of countries. These rates increased by 5% (the reference rate) can be used for calculating the notional interest deduction on new equity introduced in the business (01/01/2015 onwards). The choice of country depends on where the new equity has been invested. The NID is restricted to 80% of taxable profits generated by the application of the new equity.
The rates below apply for estimating NID for the year ended 31 December 2021.
|
A/A |
Country |
31/12/2020 |
NID Reference Interest Rate 2021 |
|
1 |
Abu Dhabi |
1,681 |
6,681 |
|
2 |
Albania |
N/A |
N/A |
|
3 |
Argentina |
3,269 |
8,269 |
|
4 |
Armenia |
7,485 |
12,485 |
|
5 |
Australia |
1,005 |
6,005 |
|
6 |
Austria |
-0,433 |
4,567 |
|
7 |
Azerbaijan |
N/A |
N/A |
|
8 |
Belarus(US$) |
6,075 |
11,075 |
|
9 |
Belgium |
-0,388 |
4,612 |
|
10 |
Bermuda(US$) |
1,783 |
6,783 |
|
11 |
British Virgin Islands |
N/A |
N/A |
|
12 |
Bulgaria |
0,19 |
5,19 |
|
13 |
Canada |
0,675 |
5,674 |
|
14 |
Cayman Islands |
N/A |
N/A |
|
15 |
China |
3,18 |
8,18 |
|
16 |
Costa Rica |
9,627 |
14,627 |
|
17 |
Croatia |
0,548 |
5,548 |
|
18 |
Cyprus |
0,136 |
5,136 |
|
19 |
Czech Republic |
1,252 |
6,252 |
|
20 |
Denmark |
-0,459 |
4,541 |
|
21 |
Dubai(?) |
N/A |
N/A |
|
22 |
Dubai (US$) |
2,594 |
7,594 |
|
23 |
Egypt |
14,006 |
19,006 |
|
24 |
Egypt(US$) |
6,678 |
11,678 |
|
25 |
Estonia |
-0,211 |
4,789 |
|
26 |
Finland |
-0,425 |
4,575 |
|
27 |
France |
-0,343 |
4,567 |
|
28 |
Germany |
-0,388 |
4,612 |
|
29 |
Guernsey |
N/A |
N/A |
|
30 |
Greece |
0,19 |
5,19 |
|
31 |
Hong Kong |
0,541 |
5,541 |
|
32 |
Hungary |
2,135 |
7,135 |
|
33 |
India |
5,865 |
10,865 |
|
34 |
Ireland |
-0,318 |
4,682 |
|
35 |
Isle of Man |
0,985 |
5,985 |
|
36 |
Israel |
0,77 |
5,77 |
|
37 |
Israel(US$) |
1,551 |
6,551 |
|
38 |
Italy |
0,541 |
5,541 |
|
39 |
Ivory Coast |
N/A |
N/A |
|
40 |
Jordan(US$) |
4,48 |
9,48 |
|
41 |
Kazakhstan (?) |
0,653 |
5,653 |
|
42 |
Kazakhstan (US$) |
4,03 |
9,03 |
|
43 |
Kenya |
11,977 |
16,977 |
|
44 |
Latvia |
-0,18 |
4,82 |
|
45 |
Lebanon |
N/A |
N/A |
|
46 |
Lithuania |
-0,197 |
4,803 |
|
47 |
Luxembourg |
-0,415 |
4,585 |
|
48 |
Morocco |
2,403 |
7,403 |
|
49 |
Mauritius |
1,58 |
6,58 |
|
50 |
Netherlands |
-0,49 |
4,51 |
|
51 |
Nigeria |
7,261 |
12,261 |
|
52 |
Nigeria(?) |
N/A |
N/A |
|
53 |
Norway |
0,944 |
5,944 |
|
54 |
Poland |
1,229 |
6,229 |
|
55 |
Portugal |
0,026 |
5,026 |
|
56 |
Romania |
2,959 |
7,959 |
|
57 |
Russia |
5,91 |
10,91 |
|
58 |
Russia (US$) |
1,546 |
6,546 |
|
59 |
Saudi Arabia |
2,399 |
7,399 |
|
60 |
Serbia |
3,48 |
8,48 |
|
61 |
Singapore |
0,834 |
5,834 |
|
62 |
Slovakia |
-0,52 |
4,48 |
|
63 |
Slovenia |
-0,187 |
4,813 |
|
64 |
South Africa |
8,736 |
13,736 |
|
65 |
Spain |
0,043 |
5,043 |
|
66 |
Sweden |
0,022 |
5,022 |
|
67 |
Switzerland |
-0,523 |
4,477 |
|
68 |
Taiwan |
0,3 |
5,3 |
|
69 |
U.S.A |
0,916 |
5,916 |
|
70 |
Ukraine (?) |
N/A |
N/A |
|
71 |
Ukraine (US$) |
6,052 |
11,052 |
|
72 |
United Arab Emirates |
N/A |
N/A |
|
73 |
United Kingdom |
0,192 |
5,192 |
|
74 |
Vietnam |
2,202 |
7,202 |
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.