Cyprus is known for having one of the most attractive tax systems in the European Union, making it an ideal location for businesses and investors seeking a favourable tax environment. Here are a few reasons why Cyprus’ tax system is so attractive:
Low Corporate Tax Rate: Cyprus has a low corporate tax rate of 12.5%, which is one of the lowest in the EU. This makes Cyprus an excellent location for businesses looking to reduce their tax liability and increase their profitability.
Wide Network of Double Taxation Treaties: Cyprus has signed over 65 double taxation treaties with other countries, which is one of the highest numbers of any country in the world. These treaties help to avoid double taxation and ensure that businesses operating in Cyprus are not subject to excessive taxation.
Favourable Personal Tax Regime: In addition to its low corporate tax rate, Cyprus also offers a favourable personal tax regime. The country has a low tax rate and numerous tax exemptions and deductions, making it an attractive location for individuals looking to minimize their tax liability.
Stable and Predictable Business Environment: Cyprus has a stable and predictable business environment, which is essential for businesses and investors. The country has a modern legal and regulatory framework, and its tax system is transparent and easy to understand.
At George Kaimakliotis & Co., we have a deep understanding of Cyprus’ tax system and can help our clients take advantage of its many benefits. Whether you are a local business or an international investor, we can provide you with the knowledge and expertise you need to succeed in Cyprus. Our team of experts can help you navigate the tax system, minimize your tax liability, and ensure compliance with all applicable regulations.