North Cyprus Tourist Board - tax on savings
North Cyprus
North Cyprus > North Cyprus Forum > tax on savings

tax on savings

North Cyprus Forums Homepage

Join Cyprus44 Board | Already a member? Login

Popular Posts - List of popular topics discussed on our board.

You must be a member and logged in, to post replies and new topics.

» Read about Additional Costs in North Cyprus



petlovers


Joined: 30/10/2008
Posts: 52

Message Posted:
19/11/2008 19:27

Join or Login to Reply
Message 1 of 4 in Discussion

can you get tax free savings in north cyprus,if you are not working here?



newscoop


Joined: 23/12/2007
Posts: 2197

Message Posted:
19/11/2008 19:52

Join or Login to Reply
Message 2 of 4 in Discussion

Savings tax = 8%



petlovers


Joined: 30/10/2008
Posts: 52

Message Posted:
19/11/2008 20:12

Join or Login to Reply
Message 3 of 4 in Discussion

what about non tax payers???



Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
19/11/2008 20:15

Join or Login to Reply
Message 4 of 4 in Discussion

No, all interest is taxed at 8% but this is good value...



If you have 100 YTL and get 19% (quite common) you get 19 YTL interest minus 8% = 1.52 tax = 117.48 or 17.48% net of tax.....



Weigh the risks up carefully though.



If you hedge your bets and put half in YTL and half in Euros you will be safer although the Euro is expensive and low interest.



Sterling.... up to you



North Cyprus Forums Homepage

Join Cyprus44 Forums | Already a member? Login

You must be a member and logged in, to post replies and new topics.