Cypriot tax revenues rose in 2020
Cyprus income tax revenue for the tax year 2020 increased by 25.6 million euros, compared to 2019, with the total amount exceeding €642 million.
Data obtained by the Cyprus News Agency show that the tax paid by employees, without additional revenue from other sources, for the tax year 2020 amounted to €573.9 million until now, recording an increase of €28.7 million compared to 2019, when the amount was €545.2 million.
Self-employed people with or without accounts and people with other income apart from their salaries paid €36 million for the tax year 2020, which is €6 million more than 2019.
Cyprus Tax Department revenue from self-taxation for the tax year 2020 amounted to €32.5 million, compared to €41.6 million for 2019.
Out of the €32.5 million paid for self-taxation for the tax year 2020, €18.6 million was paid by employees and €19.9 million by the self-employed and managers, data showed.
Out of the €41.6 million paid for self-taxation for the tax year 2019, €21.3 million was paid by employed persons and €20.3 million by the self-employed and managers.
