Reference should be made to our Publication Changes to the Cyprus Tax Laws (December 2015) and more specifically to paragraph a) of the “Exemptions of income from first employment in Cyprus”

The new amending Law N.179(I)/2020 provides that the exemption of 20% (maximum €8550) of the income of a person from employment in Cyprus, who was not a tax resident of Cyprus during the previous tax year, will apply to any such new employment starting any time up to year 2025.

This exemption will be granted for a maximum period of 5 years following the year of first employment.