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Jules
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Cyprus

Sat Feb 27, 2016 5:40 pm

I will move to Cyprus soon and I have some questions if anyone can help me. Thx!
Jules
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Re: Cyprus

Sat Feb 27, 2016 6:06 pm

:))) Never!  8)
freezig1
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Re: Cyprus

Mon Feb 29, 2016 10:34 pm

im currently in Cyprus.  You can make some business
freaked
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Re: Cyprus

Mon Sep 19, 2022 10:07 am

Are gambling winnings taxable as a Cypriot resident?
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apoel81
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Re: Cyprus

Tue Sep 20, 2022 9:46 pm

freaked wrote:
Mon Sep 19, 2022 10:07 am
Are gambling winnings taxable as a Cypriot resident?
I think that only OPAP lottery winnings are taxable 20%. Winnings from bookmakers are not taxable as bookmakers pay tax on each bet, not the customer.

I once asked an accountant and he got no clue.

If you care that much, you can sent an email at hq@tax.mof.gov.cy which is the relevant department to answer you

https://www.mof.gov.cy/mof/tax/taxdep.n ... endocument
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Re: Cyprus

Wed Sep 21, 2022 10:10 am

Thanks, that's a big help :)

I see you guys have health system contributions at 2.65% of "other income", I wonder if usually untaxable income such as capital gains and possibly gambling winnings would be subject to this, and if so how it would be paid?

How are accounts treated in Cyprus? Would a Bet365 account have similar limits and lifespan to one held by a UK resident for example?
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apoel81
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Re: Cyprus

Wed Sep 21, 2022 8:38 pm

According to law, healthcare contribution is paid on any source of taxable income. For example, you pay healthcare on your income from rent etc. As long as income from gambling is not taxable, you will not pay tax for GESY.

To pay GESY, if you are employee then your job will take it care.

If you are self employed or employer, you will first register at TAXISNET:
https://taxisnet.mof.gov.cy/prepareRegi ... tch=create

With same credentials you will logged at TAXPORTAL whereas you can pay your healthcare contributions:
https://taxportal.mof.gov.cy/

Regarding bookmakers, there are bookies who treats Eastern Europe/Balkans etc much worse than UK or Scandinavia. It all depends on the book.

Street betting is not easy either as you can't place single bets unless it is mainstream.

Banks will not like your gambling activity either as law is very strict and offshore gambling is prohibited.

There are 11 licenced bookmakers whereas you will get limited sooner or later:
https://nba.gov.cy/epoptevomeni/mitroa/klasi-v/

Hope it helps.
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Re: Cyprus

Thu Sep 22, 2022 1:21 am

Wondering what the betting shop scene is nowadays. Are these Megabet shops still open? Any new arrivals?
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Re: Cyprus

Thu Sep 22, 2022 9:19 am

apoel81 wrote:
Wed Sep 21, 2022 8:38 pm
Regarding bookmakers, there are bookies who treats Eastern Europe/Balkans etc much worse than UK or Scandinavia. It all depends on the book.
Thanks
How do 365 treat Cypriots?
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apoel81
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Re: Cyprus

Thu Sep 22, 2022 3:53 pm

freaked wrote:
Thu Sep 22, 2022 9:19 am
apoel81 wrote:
Wed Sep 21, 2022 8:38 pm
Regarding bookmakers, there are bookies who treats Eastern Europe/Balkans etc much worse than UK or Scandinavia. It all depends on the book.
Thanks
How do 365 treat Cypriots?
No idea tbh, haven't used them for ages.

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