Stamp Duty and Capital Duty

OTHER TAXES - STAMP DUTY AND CAPITAL DUTY

Stamp Duty

The following table gives the amount or rate of duty payable on certain documents. Transactions which fall within the scope of re-organisations are exempt from stamp duty. Also, documents relating to assets situated outside Cyprus or business affairs outside Cyprus are exempt from stamp duty.

Document Cost in €
Receipts (if not exempt) - for sums of over €4
7 cents
Cheques
5 cents
Letters of credit
€2
Letters of guarantee
€4
Bills of exchange (payable within three days, on demand or at sight)
€1
Contracts with a fixed amount

- the first €5.000
- between €5.001 - to €170.000
- above €170.000


0
1.5%
2%
Contracts without fixed sum
€35
Customs declaration documents (depending on document type)
€18-€35
Bills of lading
€4
Charterparty
€18
Powers of attorney

-general
-limited




€6
€2
Certified copies of contracts and documents
€2

Capital Duty

Upon incorporation of a Cyprus company

Authorised share capital
€105
Issued share capital
No capital duty is payable if the shares are issued at their nominal value. There is a €20 flat duty if the shares are issued at a premium.

Upon subsequent increases

Authorised share capital
Nil
Issued share capital
€20 on every issue, whether the shares are issued at nominal value or a premium.
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