
The Cyprus Tax System: Features, Pros, and Cons
For those planning to open a company or relocate to Cyprus, it is important to understand how the tax system works and what benefits it can provide.
There is only one single taxation system for sole proprietorships and LLCs in Turkey. This system obliges entrepreneurs to pay value added tax (VAT) and income tax respectively.
The VAT rate varies from 0% to 18%, in increments of 0/1/10/18. As for the profit tax, it is 20%. Businesses registered in a free economic zone may be exempted from paying profit tax.
For those planning to open a company or relocate to Cyprus, it is important to understand how the tax system works and what benefits it can provide.
In this article, we'll take a detailed look at what a green card is, the rights and responsibilities it provides, how to obtain one, and the pros and cons of permanent resident status.
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