Profit Extraction Form
The decision on how company profits will be extracted could have significant tax variations, which is driven by corporation tax, income tax and social insurance contributions. Use our form to determine the best ratio between salary and dividends for extracting your company profits.
The form calculates the total tax and social insurance contributions payable by a company and its shareholder depending on the percentage of income received as salary or dividends income. Therefore, you only need to define the total income and then slide the bar to show how the total taxes will fluctuate depending on the % of profits received as salary/dividend.
Disclaimer
The Profit Extraction Form (“This form”) is not a legal or Tax advice and no one should rely on it. This form has been prepared as a general guide for information purposes only as many other tax aspect should be taken into account. Please note that it is not a substitution for professional advice or an advice at all. One must not rely on the Income Tax Calculator without receiving independent advice based on the particular facts of his/her/its own case. No responsibility can be accepted by the authors or the company for any loss occasioned by acting or refraining from acting on the basis of this publication.
Visit the MyCyprusTax for more information on how to submit you income tax form.
Visit the Cyprus Tax Department for more information on how to calculate your taxes.
