Cyprus Business Now: taxes, workforce, electric vehicle scheme, seafarers

Tax incentives offered to attract international and Cypriot professionals to Cyprus have resulted in €406.6 million in tax exemptions over a three-year period, benefiting 25,277 employees who moved to the island for work between 2021 and 2023.

The total salaries declared by these employees reached €1.31 billion, with exemptions ranging between 20 and 50 per cent depending on individual cases.

The incentives are part of a broader policy framework to encourage the relocation of talent...