Convert bank interest to active income

ConstantinosCyprus tax0 Comments


Bank Interest Following on from a previous article on the taxation of interest income, under the Special Defence Contribution law (‘SDC’),the gross amount of bank interest is taxed as passive income at the rate of 30%. Active Vs Passive interest Comparing this rate of 30% with the corporate income tax rate of 12.5% on net profits, there is a significant … Read More