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Cyprus/2014  CYPRUS Tax Year 2014  (01.01.2014 – 31.12.2014) Corporate income tax rate Companies 12.5% Public Corporate Bodies 12.5% Capital gains tax rate 20% Branch tax rate n/a Withholding tax Dividends Nil2 Interest Nil2 Royalties Nil3 Branch remittance tax n/a Net Operating Losses (years) Carry back Not allowed Carry forward 5 years 1. Capital Gains Tax is imposed on the gain from the alienation of immovable property situated in Cyprus and/or shares in companies owning immovable property situated in Cyprus. 2. Cyprus does not impose withholding taxes on dividends or interest payments to non – residents. 3. Cyprus does not impose withholding taxes on royalty payments relating to the use of rights outside Cyprus. Source: Professionals from Eurofast Taxand, the Cyprus member of Taxand