Tax and VAT in Cyprus: what residents and businesses owe

Cyprus is not a no-tax island, but it is a clear one. Income tax is banded, VAT is conventional, and almost everything is filed through one portal. Here is what a resident or a business actually owes, and when.

Income tax

Income tax is administered by the Cyprus Tax Department, and you register and file through the TAX FOR ALL portal at taxforall.mof.gov.cy. For 2025, individuals with gross income above 19,500 euros must register. For the 2026 tax year the bands are 0% on income up to 22,000 euros, 20% from 22,001 to 32,000, 25% from 32,001 to 42,000, 30% from 42,001 to 72,000, and 35% above 72,001. From 2026 the registration net also widens to include tax residents aged 25 to 70 regardless of income.

VAT

You must register for VAT with the Tax Department once taxable transactions exceed, or are about to exceed, 15,600 euros over the preceding twelve months or the coming thirty days. A separate threshold of 10,251.61 euros applies to acquisitions from other EU member states. Registration uses form T.D. 1101 with proof of taxable activity, and is completed online through the TAX FOR ALL portal. The standard rate is 19%, with reduced rates of 9%, 5% and 0%, VAT returns are filed every quarter, and declarations are due by the tenth day of the second month after each period. If you trade within the EU, you also register for VIES.

The calendar that matters

Income tax returns are due fifteen months after the end of the tax year. Self-assessments fall due on 1 August for companies and high-turnover self-employed, and 30 June for others. Employee declarations are due by 31 July and employer declarations by 30 April. Corporate income tax is 12.5% of net profit, and companies also carry the annual levy of 350 euros due by 30 June.

Get it set once, then it runs

Most of this is a first-year setup problem, not an every-week burden. A licensed accountant will register you correctly and keep the calendar for you, and you will find accountants and tax advisers in our professional services directory. To be matched to one in your district, describe your situation to the concierge. Rates and applicable years change, so treat the government portal as authoritative. Source: Point of Single Contact, businessincyprus.gov.cy.