Cyprus has introduced new 50% and 20% tax exemption incentives for non-resident individuals that become employees in Cyprus. The incentives were introduced through the Income Tax (Amendment) (No. 6) Act of 2022, which was published in the Official Gazette on 26 July 2022. The new incentives, summarized as follows, replace prior similar incentives with generally more favorable terms and conditions. 20% Tax Exemption The 20% tax exemption incentive provides that 20% of an individual's remuneration from their first employment in Cyprus or EUR 8,550, whichever is lower, is exempted from tax for up to seven years. The exemption is subject...