The Cyprus Guide - Holiday Experience
 
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Cyprus Weather
Nicosia
Nicosia weather: Partly Cloudy
12°C
Limassol
Limassol weather: Partly Cloudy
15°C
Larnaca
Larnaca weather: Fair
15°C
Agia Napa
Agia Napa weather: Partly Cloudy
11°C
Polis
Polis weather: Fair
15°C
Paphos
Paphos weather: Fair
15°C

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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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Flashing lights If you see a driver flashing the lights in daylight, that probably means that police radar is near and you should be aware of the speed limit. Cyprus is one of the few places on earth that you will see people do that!