The Social Security Rate in Cyprus stands at 16.60 percent. source: Inland Revenue Department of the Republic of Cyprus

Social Security Rate in Cyprus averaged 17.11 percent from 2006 until 2020, reaching an all time high of 19.30 percent in 2014 and a record low of 15.60 percent in 2017. This page provides - Cyprus Social Security Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Social Security Rate - values, historical data and charts - was last updated on October of 2021.

Social Security Rate in Cyprus is expected to reach 15.60 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus Social Security Rate is projected to trend around 15.60 percent in 2021 and 16.60 percent in 2022, according to our econometric models.

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Cyprus Social Security Rate

Cyprus Last Unit Reference Previous Highest Lowest
Corporate Tax Rate 12.50 percent Dec/21 12.50 29.00 10.00
Personal Income Tax Rate 35.00 percent Dec/21 35.00 40.00 30.00
Sales Tax Rate 19.00 percent Dec/21 19.00 19.00 10.00
Social Security Rate 16.60 percent Dec/21 16.60 19.30 15.60
Social Security Rate For Companies 8.30 percent Dec/21 8.30 11.50 7.80
Social Security Rate For Employees 8.30 percent Dec/21 8.30 8.30 6.30

Cyprus Social Security Rate
In Cyprus, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Cyprus because they help to pay for many social programs including welfare, health care and many other benefits.