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Cyprus Eastern Forum Index » Ask Nigel A Question » Cyprus Income Tax Goto page 1, 2  Next
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Cyprus Income Tax 
Post: #1   PostPosted: Wed Feb 27, 2019 2:01 pm Reply with quote
ExSignals
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Hi Nigel

Silly question? My UK pensions are paid into a uk bank, but I only transfer a monthly sum to Cyprus to cover my living expenses. Should I declare all my pension income, or only the transferred element? I'm a Cyprus tax-payer, I'm out of the UK tax system.

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Post: #2   PostPosted: Wed Feb 27, 2019 2:23 pm Reply with quote
Anne Randle
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Hi,

I think I am right in saying if you are paying tax in Cyprus you need to declare all income e.g. pensions, rent received from property, interest from banks and building society accounts.

Anne
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Post: #3   PostPosted: Wed Feb 27, 2019 4:21 pm Reply with quote
SensibleBob
Joined: 07 Sep 2005
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Yes your WHOLE income in UK and here.

Anyone seen an update about online submission and at what rate to convert pounds to euros?
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Re: Cyprus Income Tax 
Post: #4   PostPosted: Wed Feb 27, 2019 8:42 pm Reply with quote
nhowarth
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ExSignals wrote:
Should I declare all my pension income,


Yes - unless you have a UK government pension (NOT the state retirement pension.)

There are some handy booklets - Tax Facts & Figures 2019 - Cyprus and Tax Facts & Figures 2018 - Cyprus.

Regards,

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Post: #5   PostPosted: Fri Mar 15, 2019 9:45 am Reply with quote
SensibleBob
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nearly a month ago I enquired if anyone has news about online submission of annual tax return.
Can find no updates anywhere so do you know?
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Post: #6   PostPosted: Fri Mar 15, 2019 10:03 am Reply with quote
Kwacka
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IIRC last year the online returns were put up around the start of June, so possibly a bit early yet.

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Post: #7   PostPosted: Fri Mar 15, 2019 10:09 am Reply with quote
scottie
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Kwacka wrote:
IIRC last year the online returns were put up around the start of June, so possibly a bit early yet.



Went to tax office yesterday . They have not started yet . Did not say when it will start
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Post: #8   PostPosted: Fri Mar 15, 2019 10:21 am Reply with quote
Mr Tibbs
Joined: 14 Apr 2011
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Feels like I only just finished doing the last one. Sad

Nigel, we had a form late last year, to be submitted after last Jan 1st, which allowed U.K. government pensioners to continue paying Cyprus income tax. IIRC, for a further period of 5 years?
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Post: #9   PostPosted: Fri Mar 15, 2019 10:29 am Reply with quote
nhowarth
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Hi Mr Tibbs

Re UK Govt. Service pensions - I wrote an article on the subject - Pension Christmas present from HMRC.

If you do nothing your UK Govt Service Pension will be taxed by HMRC. However, you may elect to pay tax on that pension to the Cyprus Tax Department.

Regards,

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Post: #10   PostPosted: Sat Mar 16, 2019 8:00 am Reply with quote
Mr Tibbs
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Right on time this appeared in today's post:


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Correction 
Post: #11   PostPosted: Sat Mar 16, 2019 8:12 am Reply with quote
nhowarth
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A Correction/clarification to my earlier posts:

This year which is the tax return for 2018, ALL pensions should be included.

Returns next year, which is the tax return for 2019 when the Govt Service Pension 'Christmas Present' kicks in, you will not have to include your UK Govt Service Pension unless you've elected to pay tax on that pension to HMRC.

Regards

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Re: Correction 
Post: #12   PostPosted: Sat Mar 16, 2019 1:33 pm Reply with quote
madmum
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nhowarth wrote:
A Correction/clarification to my earlier posts:

This year which is the tax return for 2018, ALL pensions should be included.

Returns next year, which is the tax return for 2019 when the Govt Service Pension 'Christmas Present' kicks in, you will not have to include your UK Govt Service Pension unless you've elected to pay tax on that pension to HMRC.

Regards



would you have to put UK state pension & UK private pension which is taxed already in UK. not worried about mine as only 34 a month but husbands is about 1500 is there a box to tick saying already paid tax in UK
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Re: Correction 
Post: #13   PostPosted: Sun Mar 17, 2019 6:52 am Reply with quote
nhowarth
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madmum wrote:
would you have to put UK state pension & UK private pension which is taxed already in UK.


If you're resident in Cyprus, you MUST pay your tax to the Cyprus Tax Department? You don't have a choice.

Regards,

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Re: Correction 
Post: #14   PostPosted: Sun Mar 17, 2019 5:01 pm Reply with quote
madmum
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nhowarth wrote:
madmum wrote:
would you have to put UK state pension & UK private pension which is taxed already in UK.


If you're resident in Cyprus, you MUST pay your tax to the Cyprus Tax Department? You don't have a choice.

Regards,



posts on another thread said you have to register & pay tax on any money earned in cyprus & any interest from investments & bank accounts. but could still have UK pensions taxed at source
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Post: #15   PostPosted: Sun Mar 17, 2019 6:27 pm Reply with quote
jeba
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Another question regarding tax: are you regarded a tax resident even if you spend less than 183 day per year in Cyprus but have a dewlling there waiting for you whenever you feel like (i. e. not rented out)?
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Post: #16   PostPosted: Sun Mar 17, 2019 6:33 pm Reply with quote
madmum
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i googled it & found something from 2018 saying apart from UK government pensions UK pensions could continue to be taxed in UK. so i take this to include both state pension & private pensions.
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Post: #17   PostPosted: Sun Mar 17, 2019 6:44 pm Reply with quote
jeba
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madmum wrote:
i googled it & found something from 2018 saying apart from UK government pensions UK pensions could continue to be taxed in UK. so i take this to include both state pension & private pensions.

Are you responding to my post? Im not British though. The background of my question was that in my home country (Germany) youre regarded a tax resident if you keep a dewlling there - even if you dont even spend a single day in Germany. id like to know whether its the same in Cyprus.
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Post: #18   PostPosted: Tue Mar 19, 2019 5:38 pm Reply with quote
nhowarth
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jeba wrote:
are you regarded a tax resident even if you spend less than 183 day per year in Cyprus but have a dwelling there waiting for you whenever you feel like (i. e. not rented out)?


In a word - No.

Regards,

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Re: Correction 
Post: #19   PostPosted: Tue Mar 19, 2019 5:41 pm Reply with quote
nhowarth
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madmum wrote:
posts on another thread said you have to register & pay tax on any money earned in cyprus & any interest from investments & bank accounts. but could still have UK pensions taxed at source


Please provide a link to the post.

Regards,

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Re: Correction 
Post: #20   PostPosted: Tue Mar 19, 2019 5:51 pm Reply with quote
madmum
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nhowarth wrote:
madmum wrote:
posts on another thread said you have to register & pay tax on any money earned in cyprus & any interest from investments & bank accounts. but could still have UK pensions taxed at source


Please provide a link to the post.

Regards,



dont know how to. but did find it & was from 2018 & ran from september to december something about double taxation

did some googling & saw if you decide to pay cyprus tax instead of UK tax then cyprus tax office notify UK who then stop taxing pensions at source. But does this actually happen. both my husbands private & state pension are a pain to deal with & took weeks to reply to forms sent after they stopped payment did confirmed he is still alive. so dont want to change to paying tax here even tho if getting it right will be cheaper then find they are still taxing it
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Cyprus Income Tax 
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