Cyprus Tax Calculator is probably the best implementation of the tax calculator that I’ve seen around. It’s dead simple to use, and allows all kinds of calculations – monthly or annually, with or without 13th salary, and reporting overalls, income tax, social insurance deductions, as well as providing tax breakdowns.
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 …
While paying the tax is now possible, the website is still very confusing. It provided practically no information or instructions on what to do. Now the site looks a bit different though. Notice that ‘Here’ icon that blinks as fast as your computer can render it?
So many people wanted to do it online, and so many failed. Some of them even posted comments on Vladimir’s blog, providing their information (ID numbers and car registration numbers) in hopes that it would somehow work.
Technology gone wrong…
P.S.: As sad as it is, it’s also very funny. Hilarious even.