Taxes on goods and services in Cyprus
Cyprus: Taxes on goods and services was 13.6% in 2024. ▲ Rising
Taxes on goods and services in Cyprus, 1995–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % value added of industry and services.
Analysis
Cyprus recorded 13.6% for taxes on goods and services in 2024.
Compared with earlier readings it is down 2.1% on the previous year and down 13.9% over ten years.
Over the whole period, taxes on goods and services in Cyprus peaked at 16.6% in 2007 and was at its lowest, 8.8%, in 1997.
Cyprus ranks 40th of 154 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 30 years of available data.
Taxes on goods and services in Cyprus, year by year
| Year | % value added of industry and services | Change |
|---|---|---|
| 1995 | 9.5% | — |
| 1996 | 9.3% | -1.4% |
| 1997 | 8.8% | -5.3% |
| 1998 | 9.6% | +9.0% |
| 1999 | 9.4% | -2.7% |
| 2000 | 11.0% | +18.1% |
| 2001 | 11.6% | +5.2% |
| 2002 | 11.9% | +2.1% |
| 2003 | 14.0% | +18.1% |
| 2004 | 15.3% | +9.1% |
| 2005 | 15.8% | +3.3% |
| 2006 | 15.9% | +0.5% |
| 2007 | 16.6% | +4.8% |
| 2008 | 16.6% | -0.2% |
| 2009 | 14.5% | -12.9% |
| 2010 | 14.3% | -0.9% |
| 2011 | 13.7% | -4.3% |
| 2012 | 14.3% | +4.2% |
| 2013 | 14.1% | -1.3% |
| 2014 | 15.8% | +11.8% |
| 2015 | 15.4% | -2.4% |
| 2016 | 15.5% | +0.7% |
| 2017 | 15.3% | -1.3% |
| 2018 | 15.5% | +1.6% |
| 2019 | 14.8% | -4.8% |
| 2020 | 13.3% | -10.4% |
| 2021 | 13.6% | +2.6% |
| 2022 | 13.8% | +1.7% |
| 2023 | 13.9% | +0.2% |
| 2024 | 13.6% | -2.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 9.3% | 8.8% | 9.6% | 5 |
| 2000s | 14.3% | 11.0% | 16.6% | 10 |
| 2010s | 14.9% | 13.7% | 15.8% | 10 |
| 2020s | 13.6% | 13.3% | 13.9% | 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 13.6% 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 16.6% in 2007.
- What is the lowest taxes on goods and services recorded in Cyprus?
- The lowest recorded value was 8.8% in 1997.
- How does Cyprus rank for taxes on goods and services?
- Cyprus ranks 40th out of 154 countries with data for 2024.
- Is taxes on goods and services rising or falling in Cyprus?
- Over the last ten years it is down 13.9%. 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 (% value added of industry and services). 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 value added in industry and services which is the contribution to the economy by industries in ISIC (Rev. 3) divisions 05-43 and 50-99.