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| Defence Tax https://mail.paphospeople.com/ppforum/viewtopic.php?f=47&t=23400 |
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| Author: | riga [ Mon Jan 07, 2013 10:47 am ] |
| Post subject: | Defence Tax |
can anybody advise the rate that defence tax is deducted from bank interest?? i note that the major banks deduct the tax before interest is paid, do the coop banks do the same?? many thanks |
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| Author: | PW in Polemi [ Mon Jan 07, 2013 3:31 pm ] |
| Post subject: | Re: Defence Tax |
All Cypriot banks deduct Defence Tax (Special Contribution) at the rate of 15% before paying you the interest earned on your deposit account. If your total income is less than €12,000 per annum, you can claim back 12%, being the difference between the deducted 15% and the 3% you would have to pay. If you earn interest abroad (anywhere in the world other than Cyprus), then you have to self-declare and pay the Special Contribution twice a year, before 30 June and 31 Dec in each year. |
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| Author: | riga [ Mon Jan 07, 2013 11:59 pm ] |
| Post subject: | Re: Defence Tax |
many thanks |
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