Cyprus: Tax
News
Following the March 2013 agreement between Cyprus and
the Eurogroup, the Cyprus House of Representatives voted a number of bills on
the 18th April 2013:
- Corporation tax increased from 10% to 12.5% with effect from 1 January 2013.
- Special Defense Contribution on passive interest income increased from 15% to 30% with effect from the date of the publication of the law in the official Gazette of the Republic of Cyprus.
- Annual levy on bank deposits payable by banks increased from 0.11% to 0.15% with effect from 1 January 2013.
