Income tax on rent, worked example, in Cyprus
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Notes
1 The property is jointly owned by husband and wife, but then taxed separately (50% upon each partner).
2 Exchange rate used: 1.00 EUR = 1.00 EUR
3 A standard deduction of 20% of the gross rental income is alloted for income- generating expenses.
4 Rental income earned by nonresident individuals is taxed at progressive rates.