Cyprus has decreased the Special Contribution for Defence rate on interest from 30% to 17%, which will be effective from 1 January 2024. This contribution rate is applicable to all individuals and companies receiving or credited with interest. The reduction in contribution rate was enacted through Law N.157(I)/2023, which was officially published in the Gazette on 20 December 2023.
Related Posts
Cyprus: Council of Ministers approves signing of amending protocol to tax treaty with Sweden
April 30, 2026
The Council of Ministers of Cyprus approved, on 24 April 2026, the signing of a protocol to amend the existing income tax treaty with Sweden. The decision, published in the Official Gazette on the same date, authorises amendments to the 1988
Read MoreCyprus tax authority publishes low-tax jurisdiction list for defensive tax measures
April 15, 2026
Cyprus Tax Department issued Circular 1/2026 on 9 April 2026, which formally establishes the list of jurisdictions classified as low-tax jurisdictions for the 2026 tax year. This circular is a critical component of Cyprus's implementation of
Read MoreCyprus extends 2025 PAYE annual tax return deadline
April 13, 2026
The Cyprus Tax Department has announced, on 9 April 2026, an extension for employers submitting their annual Pay As You Earn (PAYE) income tax withholding returns for the 2025 tax year. The revised deadline is now 30 September 2026. Employers
Read MoreCyprus enacts DAC8 amendments with lawyer privilege, client notification rule clarifications
April 08, 2026
The Cyprus Tax Department has announced that the Administrative Cooperation in the Field of Taxation (Amending) Law of 2026 (Law No. 38(I)/2026) entered into force on 1 January 2026, following its publication in the Official Gazette on 27 March
Read MoreCyprus introduces temporary zero VAT on meat, fish
April 06, 2026
The Cyprus Ministry of Finance has announced on 31 March 2026 a temporary tax relief measure that will eliminate VAT on fresh meat and fish products for six months, effective 6 April 2026 through 30 September 2026. The tax exemption applies to
Read More
Cyprus: DAC 8 crypto reporting rules enters into force
April 03, 2026
The Cyprus Tax Department announced on 2 April 2026Â that the Administrative Cooperation in Taxation Law (Amendment) of 2026 (DAC8) officially entered into force on 1 January 2026, introducing new reporting obligations for cryptocurrency service
Read More