New Rules on the 50% Tax Deduction under Section 8(23A) Of the Income Tax Law

A recent article co-written by Elias Neocleous & Co LLC Associates, Adonis Zachariou and Theodora Alexandrou, sheds light on the amendments made to the Cyprus Income Tax Law, as approved by the House of Representatives and published in the official gazette of the Republic of Cyprus on 30 June 2023. This article provides an overview of the conditions to be met by individuals employed in the Republic of Cyprus in order to benefit from the 50% tax deduction on their employment income, as these are provided under the revised section 8(23A) of the Income Tax Law.

To view the online version of the article on Mondaq, please click here.

For more information, please contact Adonis Zachariou or Theodora Alexandrou.