# Does anyone actually pay tax in Cyprus?



## manxman (Feb 14, 2008)

Every expert seems to have different information! In the recent "A Place in the Sun" magazine, tax expert Bill Blevins advised a couple that they would pay 0% tax on a pension income of E19 500 but as I pointed out on a previous blog on this forum, that sum is an individual's tax rate and I questioned whether or not a couple could have an income of E39 000 before they paid tax (thanks for your reply Babs!). I'm also contacting Mr Blevins' company to ask them to explain further. And Bill went on to say that worldwide bank interest is taxed at 10% and dividends at 15% if you are a tax resident in Cyprus, whereas on a Cyprus property website two tax experts are quoted as saying that for retirees bank interest and share dividends are tax-free!!
Who is right? Is everyone in Cyprus so wealthy that several thousand Euros is neither here nor there when it come to paying tax?!! Wow, look out, I'm on my way!


----------

