Cyprus tax resident individuals are liable to income tax on their worldwide income.
Residence requires presence in Cyprus of more than 183 days per calendar year. Cyprus non-tax residents are liable to income tax for income arising from sources in Cyprus. The first €19,500 is tax free and above this amount the income tax rates are progressive ranging from 20% to a maximum of 35% for chargeable income above €60,000.
o Dividends paid to a resident individual are subject to a Special Contribution for Defence (SCD) at a rate of 17% (20% in 2013) which is withheld at source.
o Dividends paid to a non-resident individual are not liable to SCD