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Taxation Benefits

Cyprus has Tax Treaties with 34 countries for the avoidance of double taxation of income earned. This means that those who are residence in Cyprus, can choose to be taxable in Cyprus and not in the country of origin, where tax rates are normally lower.

Pensioners who are resident in the Republic and receive pension in Cyprus are liable to tax only if it exceeds €3.417 a year and the exceeded amount is charged separately from any other income at the flat rate of 5%.

Resident individuals are liable to tax on their worldwide income (earned within and outside Cyprus) and non-resident individuals are liable to tax only on income earned within Cyprus. The scale of personal income tax please refer to paragraph D1.