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Incomes and cost of living

The main items of taxable personal income are income from employment and income obtained by self-employed persons for their services. 

Income from capital investments includes the following: 

  • receivable rents; 
  • receivable dividends.

Cyprus has indirect taxes such as VAT, for which the rate is 15%.

Other forms of taxable income include pensions, any one-off payment made as an end of service gratuity, compensation for death and bodily harm and unemployment income. 

Cost of living

The inflation rate in Cyprus in 2003 was 4.1%. The unemployment rate was 3.5%.

Information on these matters is available on the websites of the Central Bank of Cyprus, the Statistical Service, the Ministry of Finance and the Cyprus Consumers' Association.

 
Source: European Union
© European Communities, 1995-2007

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Cyprus is the legendary birthplace of the goddess of beauty and love, the beautiful Aphrodite Cyprus is the legendary birthplace of the goddess of beauty and love, the beautiful Aphrodite (also known as Kypris or the Cyprian). According to Hesiod's Theogony, the goddess emerged fully grown from the sea where the severed genitals of the god Uranus were cast by his son, Kronos, causing the sea to foam (Greek: Aphros).