Cyprus Tax, Facts & Figures 2016

PricewaterhouseCoopers (PwC) published their annual Cyprus tax, facts and figures brochure for the year 2016. It is a handy document to send to friends abroad who are interested in moving to Cyprus or starting a business here.

One thing that I found ironic in this document was the example they used for personal taxation (page 7-8 in the English PDF).  The example is for someone with a monthly salary of 5,885 EUR and additional income from rent, etc – a total income of 75,620 EUR per annum.  Looking at the average salary in European Union, Cyprus shows 1,833 EUR per month in 2014 and 1,574 EUR per month in 2015.

I hope PwC predicts a huge spike in average salaries in 2016.  That would be nice …