TAX BENEFIT IN CYPRUS

Online business is the normal around the world today. Cyprus has become one of the top EU countries with attractive tax slabs and rates. They have special benefits for the citizens with other country’s citizenship and those with Cypriot citizenship. This said, many investors are looking at a positive arc of growth the country is sporting right now. The geographical location and its closeness to other European and Asian countries have given it a boost. This is why today Cyprus is the best place for digital business today. What are the different tax benefits you can look for while doing your online store or e-commerce business?

Amazing Tax Structures

One of the crucial areas every entrepreneur thinks of while starting a business is the tax he has to pay. In Cyprus, if you are a tax paying citizen, you just have to pay a corporate tax of 12.5%. This is perhaps the lowest it can get. There are 0% withholding taxes on dividend payments. Thus, there is no tax on the dividends to pay as a Cypriot-based online business entrepreneur to your shareholders abroad. This is in case your business is a trading firm. However, there are also benefits if yours is a Holding company based in Cyprus. You get complete tax exemption on the disposal of subsidiaries and shares.

More Benefits for All Cyprus-based Investors

The best reason for any person to go for the online business is its small scale set up. At Cyprus, you will get highly skilled professional staff in your payroll. You will not have to worry about office property. You can get a residential property for VAT as low as 5%. In fact, the tax saving benefits is the reason for investors to settle down in Cyprus today. Many companies are looking for setting up their head office here because of its low tax rates and even for making a loss on taxes.

Best of EU Agreements

Cyprus has really struck a solid deal with other EU countries for favoring its business milieu. Today, we talk of tax benefits in Cyprus, but we also have to remember the country has over 64 double tax treaties and more than 40 EU trade agreements. This is helpful for the entrepreneurs to rake in millions in earning from their digital business in Cyprus. This is perhaps the golden era of doing e-commerce business in Cyprus.

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