Cyprus income tax & contributions calculator
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Note: These exemptions are mutually exclusive. Only one can be selected.
Note: These exemptions are mutually exclusive. Only one can be selected.
Personalized tax optimization strategies based on your salary and financial profile
Maximize your retirement savings while reducing current tax liability through optimal provident fund contributions.
Recommendation: Increase your provident fund contribution to the maximum 10% to reduce taxable income.
Protect your family while gaining significant tax benefits through life insurance premiums.
Recommendation: Consider life insurance premium up to 7% of desired coverage for tax deductions.
Invest in innovative SMEs for massive tax deductions while supporting the Cyprus economy.
Recommendation: Invest up to 50% of taxable income (max €150,000) in innovative SMEs for substantial tax deductions.
Note: 3-year holding period required.
Optimize health coverage for tax efficiency while ensuring comprehensive medical protection.
Recommendation: Consider health insurance premium up to 2% of gross income for tax deductions.
Important: Standard deductions (provident fund, life insurance, health insurance) are subject to a combined 20% cap of gross income. Investment deductions are separate from this cap.