32.Which taxes are paid by local companies in Cyprus?

·     Tax on net profit:

            up to        CYP 40,000 - 20%               

           more than  CYP40,000 -  25%

·      Defense fees on net profit        3%

·     VAT                                            13%

·     Municipality fees       CYP 150 в год.

·      Social Security fund payments for the employees:

            Soc. Security                6,3%

            Defence                          2%

           Unemployment fund        1,2%+0,5%

Income tax  and Soc. Security deducted from gross salaries of employees but payable by the company:

            Soc. Security                6,3%

            Defence                        2%

         Income Tax (on annual  taxable income)

- 0 - 9000 CYP                    – 0%

- 9001-1200                         - 20%

- 12001-15000                     - 25%

- 15001- ....                        - 30%

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