[2] Furthermore, various tax allowances apply for trade union fees, donation to charities.
The tax brackets for the year 2014 are: Employment income is also subject to various social security contributions.
[3] A lower rate of 9% applies to groceries, books and hotel services.
The Cyprus VAT is part of the European Union value added tax system.
[2] On the 19th of July 2019, the Cyprus Department of Taxation has issued a public consultation regarding the national transposition of (EU) 2016/1164 laying down rules against tax avoidance practices that directly affect the functioning of the internal market.