Overview of Cyprus Salary Calculator
In Cyprus, personal income tax (PIT) is levied on worldwide income for tax residents. The tax rates are progressive, ranging from 0% for income up to EUR 19,500 to 35% for income exceeding EUR 60,000, with specific accumulated tax amounts for each bracket.
Effortlessly calculate your income taxes and relevant social security contributions using our Cyprus salary calculator.
Calculate Your Cyprus Salary After Taxes
To use the Cyprus income tax calculator, simply input your gross income and income type to begin.
Notice: This calculator currently computes Personal Income Tax (PIT) and all necessary social security contributions.
Convert Your Salary To EUR
TaxAssist+ from The Next Gen Business is a tax calculation tool, tailored to use each country’s local currency for precision and simplicity.
To fully utilize this feature, please convert your native currency into EUR, ensuring accurate and efficient tax computations.
📌 What Is the Average Salary in Cyprus?
Cyprus’s sunny shores and relaxed atmosphere come with an average monthly salary of €2,300 (€27,600 annually).
Sun-kissed Nicosia boasts an average of €2,300 monthly, enabling a comfortable life with a focus on outdoor activities.
📌 What Is the Minimum Wage in Cyprus?
Cyprus does not have a general minimum wage, but specific minimum wages are set for certain occupations like shop assistants and nurses’ assistants, starting at €870 (USD 1,006) per month.
📌 What Are The Types of Taxes in Cyprus?
Cyprus has progressive income tax rates from 0% to 35%.
Corporate entities are taxed at a 12.5% rate.
A VAT rate of 19% applies, with reduced rates for certain goods and services.
References
➤ View References
PricewaterhouseCoopers: taxsummaries.pwc.com
Trading Economics: tradingeconomics.com/country-list/social-security-rate
KPMG: kpmg.com/sg/en/home/services/tax/tax-tools-and-resources.html
OECD.Stat: stats.oecd.org/index.aspx?DataSetCode=TABLE_I5
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