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Cyprus Tax Deductions



In addition to the deductions/credits listed above, deductions and business expenses may be claimed as specified below:
 Depreciation of Fixed Assets

- The depreciated balance method or the straight line method are the usual methods of depreciation in Cyprus.
- The following is a Depreciation Table (Straight Line):

Class of Asset Annual Depreciation (%)
Commercial buildings 3
Industrial buildings

 4 (Some hotels are eligible for an
additional deduction of 25% of cost).
Vehicles 20
Computers
Software		 20
33.3
Office Equipment 10
Machinery and Equipment 10




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