Tax on Pensions..

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Tax on Pensions..


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Old 2nd April 2019, 05:03 AM
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Hi I believe that Cyprus currently offers low tax for pensioners - is this omly for those in receipt of a state pension or is it also applicable for those on personal pensions?

Thanks

Jim

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Old 2nd April 2019, 06:39 AM
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Hi Jim

The lower tax rate applies to state retirement pensions, personal pensions and all other pensions.

But if you have a UK Government Service Pension, this will be taxed by HMRC unless you elect to pay tax on it in Cyprus. (this includes pensions paid to retired UK civil servants, armed forces personnel, NHS staff, teachers, local government employees, police etc.)

PwC publish a handy guide - Tax Facts & Figures.

Regards,

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Old 2nd April 2019, 03:24 PM
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Thanks Nigel that's very useful

Jim

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Old 10th April 2019, 04:02 PM
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There are many tax advantages to living in Cyprus. As mentioned in the Tax GFuide attached by Nigel, income from savings and dividends are currently exempt from tax for people who are classed as Non-Domiciled. You retain this status for 17 years if you move here. Obviously tax laws can change in future.
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Old 10th April 2019, 04:04 PM
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Quote:
Originally Posted by GSmith View Post
There are many tax advantages to living in Cyprus. As mentioned in the Tax GFuide attached by Nigel, income from savings and dividends are currently exempt from tax for people who are classed as Non-Domiciled. You retain this status for 17 years if you move here. Obviously tax laws can change in future.
Thanks - does that status change if you apply for residency ?

Jim

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Old 10th April 2019, 04:39 PM
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Quote:
Originally Posted by Shotokan101 View Post
Thanks - does that status change if you apply for residency ?

Jim
Nope, I am permanent resident and have applied for citizenship and I'm still Non-Dom. Sadly only for 2 more years..... :-(
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Old 10th April 2019, 06:42 PM
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Quote:
Originally Posted by GSmith View Post
Nope, I am permanent resident and have applied for citizenship and I'm still Non-Dom. Sadly only for 2 more years..... :-(
Thanks that's good to kmow

Jim
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Old 15th April 2019, 06:34 AM
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I have An RAF and a Prison Service pension Pay Tax in UK on Both,will I have pay in Cyprus as well ?.
Thank You.

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Old 15th April 2019, 07:04 AM
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Quote:
Originally Posted by dp600 View Post
I have An RAF and a Prison Service pension Pay Tax in UK on Both,will I have pay in Cyprus as well ?.
No - you'll only pay tax on your RAF and a Prison Service pensions in the UK. But is may be worthwhile electing to pay tax on those pensions in Cyprus - see Pension Christmas present from HMRC.

Regards,
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Old 15th April 2019, 07:05 AM
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Thank You.
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