Bloomberg News

Cyprus Direct Tax Revenue Rises 12% in January to October Period

November 18, 2011

Nov. 18 (Bloomberg) - Cyprus’s direct tax revenue in January to October rose 12 percent to 1.6 billion euros ($2.1 billion) compared to the year before, the Inland Revenue Department said.

Revenue from corporate tax and the defense levy rose 20 percent and 17 percent compared to the year before to 566.2 million euros and 363.1 million euros respectively, the IRD said in a statement on its Web site today. Income tax from employees rose 9 percent to 460.2 million euros.

--Editor: Chris Peterson

To contact the reporter on this story: Stelios Orphanides in Nicosia at sorphanides@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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