From 2021 to 2023, 25,277 employees who moved during this period to Cyprus from abroad received tax deductions and benefits totaling 406.6 million euros. The total amount of salaries received by these employees amounted to 1.31 billion euros, and tax deductions varyed from 20% to 50%.
The data was submitted by the Parliamentary Committee on Financial Affairs during the discussion of the bill, which provides for tax benefits for Cypriots working abroad and wanting to return to Cyprus.
Cypriot is about every fifth
Of the 25,277 employees who received tax deductions from 2021 to 2023, only 5292 were Cypriots. They legally underwent 84.8 million euros from wages to the budget, the total amount of which amounted to 263.6 million euros. This is the second largest indicator.
The list was headed by Russians who received tax benefits in the amount of 156.9 million euros in a total income of 513.8 million euros. In third place were 2825 workers from Greece with total income of 111.1 million euros. Their tax deductions and benefits amounted to 32.9 million euros.
Among other significant groups of beneficiaries were: - 1339 Ukrainian employees with a total income of 59.2 million euros who received tax deductions in the amount of 17.9 million euros; - 781 citizens of Belarus who received tax benefits in the amount of 13.6 million euros; - 552 employees from Israel, who received tax benefits of 17.4 million euros with a total income in the total income in the total income in the total income 52.5 million euros; - 479 British citizens, who, with a taxable income of 47.6 million euros, received tax deductions in the amount of 15.7 million euros; - 441 employee from Lebanon with a total salary of 18.4 million euros, who received tax benefits in the amount of 5.4 million euros; - 409 workers from India, who “saved” 5.5 million euros from their total earnings of 19.8 million euros. The list also includes citizens of Germany, Italy and France.
ITSHNIKS, but not only
Most of the taxpayers who have used tax benefits work in the field of IT, are engaged in scientific and technical activities, finance and insurance. This is, in particular:-9060 IT industry workers who received benefits in the amount of 136.4 million euros with a total income of 450.2 million euros;-5,973 people engaged in scientific and technical activities with a total income of 310.7 million euros, who “underpaid” 96.5 million euros;-2347 employees of the financial and insurance sphere, 2,347 people. earned 182.5 million euros and received tax benefits in the amount of 59.2 million euros.
Other sectors covered by benefits included administrative activities (1615 employees), retail and wholesale trading and repair of vehicles (1366 employees), water supply and wastewater treatment (868 employees), transport and warehousing (760 employees), public administration and defense (758 employees), education and social assistance and social assistance and social assistance and social assistance and social assistance and social assistance (415 people).
Unjust in relation to Cypriots?
During the discussion, the Cyprus College of Lawyers expressed concern about the unequal attitude towards taxpayers laid down in the new bill. The organization believes that the scheme for attracting citizens of Cyprus working abroad, using tax benefits, stimulates the frames leak. To get a more profitable salary, Cypriot must first live and work abroad.
The text is prepared based on materials in cyprus
