Nobel Trust

📢 Important Update: Cyprus parliament approves comprehensive tax reform

This week, the House of Representatives officially approved a major tax reform package set to take effect on 1 January 2026. This marks a significant update to Cyprus’s tax framework with notable changes for both individuals and businesses.

🔹 Key changes at a glance:
• Tax-free income threshold increased to EURO 22,000 (up from EURO 19,500), meaning more income is exempt from personal income tax.

• Revised personal tax brackets and expanded deductions (families, housing costs, rent, home energy upgrades, EV purchases) to support households.

• Corporate tax rate raised from 12.5% to 15%, aligning Cyprus more closely with international norms.

• Major reforms to the Special Defence Contribution (SDC), including a 5% rate on actual dividend distributions (reduced from 17% for profits generated after 01/01/2026), abolition of levies on deemed dividends and rental income, and new anti-abuse measures.

• Stamp duty abolished.

📈 The reform aims to balance tax relief for individuals and families with a sustainable, competitive climate for business investment.


👉 Now is the time for private individuals and companies operating in Cyprus to reassess their tax planning strategies and prepare for the upcoming changes in 2026. Contact us for further information: https://lnkd.in/dmHuYjzs

As we reflect on 2023, we are reminded of the achievements we celebrated, the challenges we have conquered, and, the trust our stakeholders have placed in us. 2023 was highlighted as a year of change, growth, and expansion.

Our team continues to take action by providing the utmost attention to existing clients and remains fully committed to onboarding our new clients. We maintain the philosophy and practice that our services are more defined by our capabilities, therefore we bridge our skillsets with knowledge, professional acumen, and ongoing development.

Wishing everyone the very best for 2024.

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About Nobel:
We specialize in structuring, business consulting & advisory, finance management, risk & compliance, strategy & transformation, M&A & transactions, aiming to be a one-stop shop for clients’ professional needs. Nobel offers bespoke solutions which empower stakeholders to reach their strategic objectives.

You can watch the video recording of our event jointly organised with Ioannides Demetriou LLC on the 30th November 2023:
"Recent Developments in EU Tax Law, Taxpayers' Rights and the Impact on Cyprus"
--> https://youtu.be/RdjZeWnPw5Y?si=_TZTDi5nf_7VfCRK

The topics were presented by leading counsel Professor Philip Baker, KC, OBE, Field Court Tax Chambers and the University of Oxford, and Ioannides Demetriou LLC’s collaborating Special Tax Counsel Professor Christiana HJI Panayi, Chair in Tax Law at Queen Mary University of London.

Ioannides Demetriou LLC & Nobel Trust Ltd. 30th November 2023 event recording IOANNIDES DEMETRIOU LLC and Nobel Trust Ltd jointly organised and presented the event titled: “Recent Developments in EU Tax Law, Taxpayers’ Rights and the I...

Our team proudly completed the 5km Quantum Nicosia Marathon Marathon Corporate run and the excitement is evident! 🙂