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Basis of taxation

All tax residents of Cyprus are taxed on all income accrued or derived from all sources in Cyprus and abroad. Individuals who are not tax residents of Cyprus are taxed on income accrued or derived from sources in Cyprus only. An individual is tax resident in Cyprus if he spends more than 183 days in Cyprus in any one year.

Basis Period

The year of assessment is the calendar year. That is the period covering the twelve months from 1st of January to 31st December.

Personal Tax rates