Taxes on income, profits and capital gains in Cyprus
Cyprus: Taxes on income, profits and capital gains was 44.6% 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 total taxes.
Analysis
Cyprus recorded 44.6% for taxes on income, profits and capital gains in 2024.
Compared with earlier readings it is up 6.2% on the previous year and up 17.9% over ten years.
Over the whole period, taxes on income, profits and capital gains in Cyprus peaked at 47.2% in 1999 and was at its lowest, 20.4%, in 1972.
Cyprus ranks 49th of 153 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 income, profits and capital gains in Cyprus, year by year
| Year | % of total taxes | Change |
|---|---|---|
| 1972 | 20.4% | — |
| 1973 | 21.0% | +2.9% |
| 1974 | 24.6% | +17.1% |
| 1975 | 35.7% | +45.1% |
| 1976 | 33.6% | -5.9% |
| 1977 | 25.4% | -24.5% |
| 1978 | 25.2% | -0.6% |
| 1979 | 26.2% | +4.0% |
| 1980 | 32.4% | +23.6% |
| 1981 | 31.5% | -2.7% |
| 1982 | 30.2% | -4.4% |
| 1983 | 32.1% | +6.6% |
| 1984 | 31.9% | -0.8% |
| 1985 | 33.0% | +3.6% |
| 1986 | 30.7% | -7.0% |
| 1987 | 32.1% | +4.7% |
| 1988 | 30.3% | -5.7% |
| 1989 | 31.4% | +3.6% |
| 1990 | 33.5% | +6.8% |
| 1991 | 30.3% | -9.7% |
| 1992 | 28.6% | -5.7% |
| 1993 | 28.2% | -1.1% |
| 1994 | 29.4% | +4.1% |
| 1995 | 40.5% | +37.9% |
| 1996 | 40.5% | -0.1% |
| 1997 | 42.6% | +5.3% |
| 1998 | 43.8% | +2.6% |
| 1999 | 47.2% | +8.0% |
| 2000 | 44.4% | -6.0% |
| 2001 | 43.9% | -1.1% |
| 2002 | 43.5% | -1.0% |
| 2003 | 34.8% | -19.9% |
| 2004 | 28.8% | -17.4% |
| 2005 | 31.7% | +10.1% |
| 2006 | 36.1% | +14.1% |
| 2007 | 40.4% | +11.7% |
| 2008 | 39.7% | -1.8% |
| 2009 | 39.6% | -0.3% |
| 2010 | 38.8% | -1.8% |
| 2011 | 41.8% | +7.6% |
| 2012 | 40.4% | -3.5% |
| 2013 | 40.3% | -0.1% |
| 2014 | 37.9% | -6.1% |
| 2015 | 36.8% | -2.7% |
| 2016 | 36.5% | -0.8% |
| 2017 | 37.9% | +3.7% |
| 2018 | 37.8% | -0.4% |
| 2019 | 38.2% | +1.1% |
| 2020 | 41.0% | +7.5% |
| 2021 | 41.5% | +1.1% |
| 2022 | 41.6% | +0.2% |
| 2023 | 42.0% | +1.1% |
| 2024 | 44.6% | +6.2% |
Cyprus compared with similar countries
- Cyprus's 44.6% is above the median for high income countries, which is 43.9%, 1.0× the median. (55 countries reporting)
- Cyprus's 44.6% is above the median for Europe & Central Asia, which is 39.4%, 1.1× the median. (48 countries reporting)
Biggest year-on-year movements
Years where Taxes on income, profits and capital gains in Cyprus changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1975 | +45.1% | 24.6% | 35.7% |
| 1995 | +37.9% | 29.4% | 40.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 26.5% | 20.4% | 35.7% | 8 |
| 1980s | 31.6% | 30.2% | 33.0% | 10 |
| 1990s | 36.5% | 28.2% | 47.2% | 10 |
| 2000s | 38.3% | 28.8% | 44.4% | 10 |
| 2010s | 38.6% | 36.5% | 41.8% | 10 |
| 2020s | 42.1% | 41.0% | 44.6% | 5 |
Countries ranked near Cyprus
More public sector data for Cyprus
- Democracy, 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)
- Elected parliament, 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)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is taxes on income, profits and capital gains in Cyprus?
- Taxes on income, profits and capital gains in Cyprus was 44.6% 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 47.2% in 1999.
- What is the lowest taxes on income, profits and capital gains recorded in Cyprus?
- The lowest recorded value was 20.4% in 1972.
- How does Cyprus rank for taxes on income, profits and capital gains?
- Cyprus ranks 49th 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 17.9%. 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 income, profits and capital gains (% of total taxes). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 53 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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 total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.