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Cyprus Tax Calculator 2022

Taxpayer’s Personal Information


Savings Amount For Maximum Tax Exemptions

  • Ideal Monthly Savings Amount (€):
  • Minimum Life Insurance Cover (€):
  • Annual Tax Exemptions (€):

Detailed Analysis

Taxable Income

Without Saving Insurance(€) With Saving Insurance(€)
Annual Income
Rents Receivable
Total Gross Income
20% of rental income deducted
Donations to approved charities €300 €300
Net Total Income
TAX EXEMPTIONS
Social Insurance Contributions
National Health System’s Contribution (GESY)
Private Medical Insurance (1,5% of income)
Total Tax Exemptions
Maximum Acceptable Tax Exemptions’ Amount
Savings Insurance Amount (Premium) securing maximum tax exemption 0
TAXABLE INCOME
Without Saving Insurance(€) With Saving Insurance(€)
Minimum Life Insurance Coverage
0

Total Income Tax

Tax Brackets Tax Rate(%) Tax Amount (€) Tax Payable Without Saving Insurance(€) Tax Payable with Saving Insurance (€)
0 – 19,500 0% 0 0 0
19,500 – 28,000 20% €1,700
28,000 – 36,300 25% €2,075
36,300 – 60,000 30% €7,110
> 60,000 35%
Total Income Tax

Savings on income Tax

Without Saving Insurance(€) With Saving Insurance(€)
Net Taxable Income
Tax Payable
Net Income after Taxes
Annual Savings Amount 0
Net Income after Taxes + Annual Savings Amount
Savings on income Tax 0
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