Tax Deductions Guide
Check which tax deductions you can claim, see calculated amounts, and get exact TD59 form instructions.
Check our tax calculator to see a detailed breakdown of your salary, tax bands, and net income.
Your Details
Enter your information to check which deductions you can claim.
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Annual income from other sources: dividends, royalties, 13th salary, annual bonus, or any other bonuses. This is used to check if your total family income exceeds the allowance threshold.
Are you legally married? Your spouse's income affects eligibility for some deductions.
Dependent children under 18, or under 25 if in full-time education.
Check this if you moved to Cyprus for work and this is your first employment here.
Do you pay rent or have a mortgage for your home in Cyprus?
Purchase cost of a new electric vehicle, installation of solar panels, or energy-efficient home upgrades (e.g., insulation). Running costs like charging, maintenance, or repairs do not qualify. Up to €1,000 per year is deductible.
Annual premiums you pay for life insurance or disability insurance. Must relate to you personally, not another person. Deductible up to 7% of the capital sum insured.
Personal Allowances
Deductions from your taxable income based on family status and expenses.
Children Allowance
€1,000 for the 1st child, €1,250 for the 2nd, €1,500 for each additional child. Doubled for single parents.
No children declaredRent / Mortgage Interest
Deduct housing costs up to €2,000 per year.
No housing costs declaredGreen / EV Investment
Deduct green spending up to €1,000 per year.
No green spending declaredLife Insurance
Deduct life insurance and disability insurance premiums up to 7% of the capital sum insured. Not income-tested.
No life insurance declaredEmployment Exemption
This exemption is only available to individuals who moved to Cyprus for employment and were not previously tax-resident.
Not a new residentTD59 Summary
Fill these values in the corresponding fields on your TD59 tax return.
Enter your details above to see which deductions you can claim.