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Click here for Russian version Compulsory Payments Related to Employees Working in Cyprus: Cyprus payroll regulations require employers to pay Social Insurance Contributions for their employees and employees to pay both Social Insurance and Payroll Taxes on their gross earnings. A) Social Insurance Contributions: The employer is liable to pay contr...

Personal taxation Income tax rates for 2012/13 will remain at the 2011/12 levels. Personal allowance is expected to increase for 2013/14 from £8,105 to £9,205, while the basic rate limit will be reduced by £2,125, i.e from £34,370 to £32,245. As of 2013/14, age-related personal allowances will not be increased. Allowanes worth £10,500 will on...