Cyprus Tax Agency Issues Guidance on 2026 Tax Reform Changes for Individual Income

The Cyprus Tax Department Jan. 9 issued guidance on 2026 individual income tax reform changes, effective Jan. 1. Topics covered include: 1) the fillable PDF declaration for claiming deductions for tax year 2026; 2) explanatory guidance for individuals tax resident in Cyprus, including the tax-free amount increase to 22,000 euros (US$25,671) from 19,500 euros (US$22,754), and rates ranging from 20 percent for income from 22,001 euros (US$25,672) to 32,000 euros (US$37,340), to 35 percent for income of 72,001 euros (US$84,017) and above, from tax year 2026; 3) FAQs, including the July 31, 2027, deadline to file tax year 2026 returns, ...