# Cyprus Tax



## Big-bad_dave (Jul 17, 2014)

Hi All,

Since moving to Cyprus from a non European country in 2014, Tax has never been mentioned - IPT, not at all due to our house costing around 110k, a friend and our financial adviser both mentioned that If our savings/spending didn't exceed 18,000 euros - I gather it's up to 19,500 euros now - then you don't pay tax either...can someone enlighten me or at least put me right IF I am wrong please...I have a TFN for Australia plus my NI number for the UK but the Natwest have tried for the last two years to get me to divulge my Cyprus Tax number - No can do....I understand all the European countries have some form of co operation going so that fraudsters etc can be caught and made to cough up providing they live within the EU...I'm half expecting the Heavies bashing down our door at 3am some morning!!

Can anyone shed some light on the subject please?!?

Thanks,

Dave


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## Veronica (Apr 5, 2008)

If your INCOME doesn't exceed 19.500K including any interest from savings etc then you don't have to pay tax.
You do still need to register with the Cypriot tax authorities though and fill in a tax form annually.


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## Big-bad_dave (Jul 17, 2014)

Thanks Veronica...although when we moved here three years ago our Financial adviser basically hinted that if we moved less than 18k through our account yearly then we didn't have to register for anything...how wrong he was...do you know that if we register now having never exceeded the 18k figure would we be penalised?


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## Veronica (Apr 5, 2008)

Are you paying tax anywhere else? I think you really need to find a good accountant who knows the ins and outs of Cyprus tax. Unfortunately financial advisors do not always know how it works here.


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