The Cyprus Tax Department has published the 10-year government bond yield rate of Montenegro (in Euro) and Cameroon (in Euro) as of 31 December 2022 and 31 December 2023. These rates, when increased by 5%, are utilised as reference rates for calculating Notional Interest Deduction (NID) for the year 2024. According to the rules, the NID rate matches the 10-year government bond yield of the country.
The reference rates of each year are based on the rates as of 31 December 31 of the previous tax year. The reference rate for Cyprus is set at 3.250% for 2024.
This reference rate table provides the reference rates for different countries for different years up to 31 December 2023.
The reference rates for Montenegro and Cameroon are as follows:
| Country | 31 December 2023 | 31 December 2022 |
| Montenegro (EURO) | 10.732 | 10,288% |
| Cameroon (EURO) | 7.959% | 6.070% |
