Through a decree by
the Council of Ministers of the Republic of Cyprus issued in the Official
Gazette on 23 September 2022, individuals whose gross annual income is below
€19.500 have been exempted from the obligation to submit a personal income tax return
for the tax year 2022.
It is reminded that
the same exemption was in force for previous years as well, since the
submission of a personal income tax return became mandatory for all individuals
with gross income falling under the provisions of Article 5 of the Income Tax
Law back in 2020.
It is also reminded
that €19.500 is the threshold below which any taxable income is exempt from
Income Tax.
