Tax Saving as Defence Tax Removed for Non Dom Expat in Cyprus
Happy New Year - Defence Savings Taxes are reduced from 30% to 0% for Expats Living and Working Abroad in Cyprus who qualify for the new 'non-dom' tax status for Expats.
Defence levy Savings taxes are now 0% for all non-domiciled Expat Cyprus investors and tax residents for savings, dividends, investments, property rental income and investments.
Because it is a 0% rate then tax at source in another country can be reclaimed – but the laws of that country may also retain that tax. If you become domiciled in Cyprus then you must pay defence levy.
Do you qualify for this Tax Saving ? How do you register your Cyprus Bank account for this Tax Free non-dom status ? Cyprus Tax resident and How to reclaim tax charged abroad?