Taxes on goods and services in Cyprus
Cyprus: Taxes on goods and services was 29.1% in 2024. ▲ Rising
Taxes on goods and services in Cyprus, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2024, taxes on goods and services in Cyprus stood at 29.1%.
The figure is down 2.0% on the previous year and down 10.8% over ten years.
Over the whole period, taxes on goods and services in Cyprus peaked at 36.3% in 2004 and was at its lowest, 16.7%, in 1977.
Cyprus ranks 90th of 156 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 53 years of available data.
Taxes on goods and services in Cyprus, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1972 | 23.9% | — |
| 1973 | 27.7% | +16.1% |
| 1974 | 24.2% | -12.8% |
| 1975 | 19.9% | -17.8% |
| 1976 | 18.3% | -7.9% |
| 1977 | 16.7% | -9.0% |
| 1978 | 23.2% | +39.6% |
| 1979 | 27.5% | +18.2% |
| 1980 | 22.8% | -17.0% |
| 1981 | 19.9% | -12.9% |
| 1982 | 19.7% | -0.9% |
| 1983 | 20.2% | +2.3% |
| 1984 | 20.2% | +0.1% |
| 1985 | 20.4% | +1.2% |
| 1986 | 19.1% | -6.7% |
| 1987 | 19.1% | +0.1% |
| 1988 | 18.9% | -0.7% |
| 1989 | 19.0% | +0.4% |
| 1990 | 18.3% | -3.9% |
| 1991 | 18.2% | -0.4% |
| 1992 | 22.0% | +20.8% |
| 1993 | 25.8% | +17.3% |
| 1994 | 28.8% | +11.8% |
| 1995 | 26.7% | -7.4% |
| 1996 | 26.7% | -0.1% |
| 1997 | 26.1% | -2.2% |
| 1998 | 27.6% | +5.8% |
| 1999 | 27.2% | -1.5% |
| 2000 | 29.4% | +8.2% |
| 2001 | 29.9% | +1.8% |
| 2002 | 30.6% | +2.3% |
| 2003 | 33.8% | +10.4% |
| 2004 | 36.3% | +7.7% |
| 2005 | 35.3% | -2.8% |
| 2006 | 35.1% | -0.6% |
| 2007 | 33.7% | -4.0% |
| 2008 | 35.1% | +4.1% |
| 2009 | 33.0% | -5.9% |
| 2010 | 32.6% | -1.1% |
| 2011 | 31.8% | -2.5% |
| 2012 | 32.8% | +3.2% |
| 2013 | 31.5% | -3.9% |
| 2014 | 32.6% | +3.4% |
| 2015 | 32.6% | +0.2% |
| 2016 | 34.4% | +5.3% |
| 2017 | 33.5% | -2.4% |
| 2018 | 33.9% | +1.0% |
| 2019 | 32.1% | -5.2% |
| 2020 | 29.9% | -6.9% |
| 2021 | 30.0% | +0.4% |
| 2022 | 31.1% | +3.4% |
| 2023 | 29.7% | -4.5% |
| 2024 | 29.1% | -2.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 22.7% | 16.7% | 27.7% | 8 |
| 1980s | 19.9% | 18.9% | 22.8% | 10 |
| 1990s | 24.7% | 18.2% | 28.8% | 10 |
| 2000s | 33.2% | 29.4% | 36.3% | 10 |
| 2010s | 32.8% | 31.5% | 34.4% | 10 |
| 2020s | 29.9% | 29.1% | 31.1% | 5 |
Countries ranked near Cyprus
More public sector data for Cyprus
- Arms imports 115.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 84.67 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0031 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate -63.33 % change on previous year (2021)
- Arms imports (SIPRI trend indicator values), gaps filled 115.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 440.4 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0159 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 7.03 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 598.19 million current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 1,190 SIPRI trend indicator values per square kilometre (2021)
Frequently asked questions
- What is taxes on goods and services in Cyprus?
- Taxes on goods and services in Cyprus was 29.1% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Cyprus?
- The highest recorded value was 36.3% in 2004.
- What is the lowest taxes on goods and services recorded in Cyprus?
- The lowest recorded value was 16.7% in 1977.
- How does Cyprus rank for taxes on goods and services?
- Cyprus ranks 90th out of 156 countries with data for 2024.
- Is taxes on goods and services rising or falling in Cyprus?
- Over the last ten years it is down 10.8%. The long-run trend across the full record is rising.
- Where does this Cyprus data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on goods and services (% of revenue). Statizoid updates them automatically from the source API.
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About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.