Taxes on income, profits and capital gains (% of revenue) in Cyprus
Cyprus: Taxes on income, profits and capital gains (% of revenue) was 26.1% in 2024. ▲ Rising
Taxes on income, profits and capital gains in Cyprus, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
The most recent figure for taxes on income, profits and capital gains in Cyprus is 26.1%, measured in 2024.
The figure is up 9.1% on the previous year and up 15.8% over ten years.
Over the whole period, taxes on income, profits and capital gains in Cyprus peaked at 29.1% in 1999 and was at its lowest, 13.3%, in 1977.
That places Cyprus 66th out of 153 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 53 years of available data.
Taxes on income, profits and capital gains (% of revenue) in Cyprus, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1972 | 13.8% | — |
| 1973 | 15.4% | +11.8% |
| 1974 | 14.6% | -5.0% |
| 1975 | 18.4% | +25.7% |
| 1976 | 17.3% | -6.1% |
| 1977 | 13.3% | -23.0% |
| 1978 | 15.3% | +15.0% |
| 1979 | 17.2% | +12.2% |
| 1980 | 21.0% | +22.2% |
| 1981 | 18.7% | -10.7% |
| 1982 | 17.5% | -6.9% |
| 1983 | 19.5% | +11.8% |
| 1984 | 20.0% | +2.5% |
| 1985 | 20.8% | +4.0% |
| 1986 | 19.2% | -7.4% |
| 1987 | 20.3% | +5.4% |
| 1988 | 19.6% | -3.2% |
| 1989 | 20.6% | +4.8% |
| 1990 | 21.8% | +5.8% |
| 1991 | 19.0% | -12.7% |
| 1992 | 18.3% | -3.6% |
| 1993 | 18.1% | -0.9% |
| 1994 | 19.5% | +7.5% |
| 1995 | 24.4% | +25.0% |
| 1996 | 23.7% | -2.7% |
| 1997 | 24.4% | +2.9% |
| 1998 | 26.0% | +6.3% |
| 1999 | 29.1% | +12.2% |
| 2000 | 28.1% | -3.6% |
| 2001 | 27.8% | -1.2% |
| 2002 | 27.8% | +0.3% |
| 2003 | 21.6% | -22.3% |
| 2004 | 17.6% | -18.7% |
| 2005 | 19.4% | +10.3% |
| 2006 | 22.9% | +18.1% |
| 2007 | 27.6% | +20.3% |
| 2008 | 26.8% | -2.8% |
| 2009 | 24.4% | -8.8% |
| 2010 | 23.7% | -3.1% |
| 2011 | 25.9% | +9.3% |
| 2012 | 24.9% | -3.6% |
| 2013 | 24.4% | -2.1% |
| 2014 | 22.5% | -7.6% |
| 2015 | 21.9% | -2.7% |
| 2016 | 22.3% | +1.9% |
| 2017 | 23.2% | +3.8% |
| 2018 | 22.9% | -0.9% |
| 2019 | 22.2% | -3.1% |
| 2020 | 23.3% | +4.6% |
| 2021 | 23.7% | +1.8% |
| 2022 | 24.5% | +3.6% |
| 2023 | 23.9% | -2.6% |
| 2024 | 26.1% | +9.1% |
Cyprus compared with similar countries
- Cyprus's 26.1% is above the median for high income countries, which is 24.5%, 1.1× the median. (55 countries reporting)
- Cyprus's 26.1% is above the median for Europe & Central Asia, which is 20.9%, 1.2× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 15.7% | 13.3% | 18.4% | 8 |
| 1980s | 19.7% | 17.5% | 21.0% | 10 |
| 1990s | 22.4% | 18.1% | 29.1% | 10 |
| 2000s | 24.4% | 17.6% | 28.1% | 10 |
| 2010s | 23.4% | 21.9% | 25.9% | 10 |
| 2020s | 24.3% | 23.3% | 26.1% | 5 |
Countries ranked near Cyprus
More public sector data for Cyprus
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 28.00 million SIPRI trend indicator values (2025)
- 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)
Frequently asked questions
- What is taxes on income, profits and capital gains in Cyprus?
- Taxes on income, profits and capital gains in Cyprus was 26.1% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Cyprus?
- The highest recorded value was 29.1% in 1999.
- What is the lowest taxes on income, profits and capital gains recorded in Cyprus?
- The lowest recorded value was 13.3% in 1977.
- How does Cyprus rank for taxes on income, profits and capital gains?
- Cyprus ranks 66th out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Cyprus?
- Over the last ten years it is up 15.8%. 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 income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. 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.