Individuals considered Cyprus tax residents (either through the 183 day rule or the 60 day rule) are subject to Income Tax in Cyprus on their worldwide income, both from sources in Cyprus as well as from abroad.
Individuals considered non-Cyprus tax residents are subject to Cyprus tax on income accruing or arising from sources in Cyprus only, on:
- Profits or other benefits from a permanent establishment situated in Cyprus or on any office or employment exercised in Cyprus
- Pensions derived from past employment exercised in Cyprus
- Rent from property situated in Cyprus
- Trade goodwill reduced by any amount incurred for the purchase of such trade goodwill
- The gross income derived from the exercise in Cyprus of any profession or vocation
- The remuneration of public entertainers and the gross receipts of any theatrical, musical or other group of public entertainers
- Benefit in kind equal to 9% per annum on the monthly balance of loans or other financial facilities granted to an individual, director or shareholder (including the spouse and relatives up to the second degree of kindred).
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