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CYPRUS SOCIAL INSURANCE AND TAXATION FOR PAYROLL

Social Insurance Contributions for the Employee and Employer
The rate of Social insurance contributions is applied to a maximum level of emoluments. The maximum level of emoluments for 2015 and 2014 is €54.396 (weekly €1.046/monthly €4.533).
The rate of 7,8% applies for both the employer and the employee up to 31 December 2018.
Other employer’s contributions:
  • Social cohesion fund 2,0
  • Redundancy fund 1,*
  • Industrial training fund 0,5
  • Holiday fund (if not exempt) 8,0
Special Contribution  Employee €
First 1500 Νil
From 1501 – to 2500 2,5% (minimum €10)
From 2501 – to 3500 3,0%
Over 3500 3,5%

 

Income Tax    
Chargeable income € Tax rate % Accumulated tax €
First 19500 Nil Nil
From 19501 – to 28000 20 1700
From 28001 – to 36300 25 3775
From 36301 – to 60000 30 10885
Οver 60000 35