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Learn moreCyprus: Reduced special defence contribution rate on interest
Reduced to 17% (from 30%)
The special defence contribution rate on interest received or credited by every person (individual and company) resident in Cyprus is reduced to 17% (from 30%). This follows the publication of Law N.157(I)/2023 in the government gazette on 20 December 2023, effective from 1 January 2024.
Read a January 2024 report prepared by the KPMG member firm in Cyprus
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