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Discussion Starter · #1 ·
Hi - we're moving to Paphos area next March and would welcome advice on the Income Tax situation. Pension will be £13000 per annum but should we stay under UK system or take up Cyprus system? If Cyprus which do you recommend - the 5% or 30% where first 19,000 is tax free. In view of economic climate - every penny counts!

niftififties
 

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Hi there. Welcome to the forum.
I think your question is an easy one. £13000 Sterling equates to roughtly 14300 Euros and is well within the Cyprus tax allowance. Even if you have other income it is probably not going to exceed the allowance. If you reside in Cyprus for over 183 days in the Cyprus financial year (Jan to Dec) you are eligible... why pay more tax than you have to?
 

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Discussion Starter · #3 ·
Hi there. Welcome to the forum.
I think your question is an easy one. £13000 Sterling equates to roughtly 14300 Euros and is well within the Cyprus tax allowance. Even if you have other income it is probably not going to exceed the allowance. If you reside in Cyprus for over 183 days in the Cyprus financial year (Jan to Dec) you are eligible... why pay more tax than you have to?
thanks for your reply - so much to think about, so little time!!!
 
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