…that Cyprus is regarded as having the most attractive tag regime in Europe?

In a survey KPMG interviewed more than 400 tax professionals across Europe. According to the poll Cyprus was regarded as the most attractive tax regime in Europe followed by Ireland, Switzerland and Malta. The least attractive tax regime was that of neighboring Greece.

… in Cyprus you can earn up to 19.500 Euros without paying personal income tax

Most jurisdictions allow for a free amount to be earned without having to pay personal income tax. This non-taxable amount differs from jurisdiction to jurisdiction but it is clear that Cyprus is one of the jurisdictions having the most generous rules in this area. According to Cyprus tax law you are allowed to earn up to 19.500 euros per year tax-free.

Information from Deloitte about the Tax System in Cyprus

Deloitte is one of the largest providers of audit, tax,consulting and financial advisory services in Cyprus and constitutes a part of Deloitte Touche Tohmatsu (DTT) that is one of the world’s leading professional services firms with almost 170.000 people in more than 140 countries.

Deloitte’s professional services in Cyprus includes:

• audit of financial statements in accordance with International, UK or US audit standards tax services to both Cyprus and foreign companies,
• consulting services including financial and management consulting,
• EU advisory services,
• information technology (IT) and human resource consulting,
• investment & wealth advisory services,
• e-business services including technical and tax services,–
• corporate finance services as well as advice andassistance to private companies considering to go public, –
• accounting services, formation of companies with lawyers and special services to international business companies.

Deloitte has published en excellent brochure/book with the title ‘Cyprus Tax Facts 2010′ that gives an easy to understand but still comprehensive description of the Cyprus Tax System. The publication is a must for anyone thing about incorporating a company in Cyprus or in any other way setting up an offshore structure where Cyprus is included.

The publication informs about almost everything in the Cyprus Tax system from offshore companies and International Business Companies to Royalties and pensions.

The publication is in pdf-format and can be downloaded directly by the link below and the website of Deloitte Cyprus can be reached at the following address: http://www.deloitte.com/view/en_CY/cy/index.htm

Download: Cyprus Tax Facts 2010