Cyprus proposed Tax System

How much you pay for taxes

The left axis shows the tax amount you have to pay based on your yearly net income. The red line depicts the tax amount with the current tax system, while the green line shows what you will pay with the proposed system.

For example at €25000, currently you pay €1100 taxes, while with proposed system you will pay €900. This €200 difference, accounts 18.88% gain¹, which is represented with the blue line.

How much you save with the proposed tax system

Notes

1. The function to calculate gains: (old-new)/old e.g., for our example: 1100-900)/1100= 0.1888 = 18.88% ↩︎