Cyprus: Inheritance Tax

Cyprus has raised its corporate income tax rate from 12.5% to 15%, but the total tax burden on distributed profits has actually fallen by more than eight percentage points for Cyprus-domiciled shareholders due to a dramatic cut in the Special Contribution for Defence on dividends. However, non-domiciled residents and foreign shareholders now face higher effective rates, fundamentally reshaping the island's tax competitiveness for different investor categories.

On October 30, 2024, UK Chancellor Rachel Reeves introduced a budget that brings substantial changes to the taxation of high-net-worth individuals (HNWIs).

UK expats who have lived abroad for many years often remain UK-domiciled and therefore liable to UK Inheritance Tax (IHT).