The Cyprus parliament has voted to extent to the year 2025 the provision of article 21 (8) of the Income Tax Law, whereby  the lower of 20% or Euro 8.550 of the remuneration of an individual from an office or employment who was residing outside of Cyprus before the commencement of his employment in Cyprus, is exempt from income tax.

This exemption applies for 5 years commencing from 1st January of the year following the year of commencement of employment.

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