The Social Security Rate in Cyprus stands at 16.60 percent. Social Security Rate in Cyprus averaged 17.15 percent from 2006 until 2019, reaching an all time high of 19.30 percent in 2014 and a record low of 15.60 percent in 2017.

Social Security Rate in Cyprus is expected to be 16.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus Social Security Rate is projected to trend around 16.60 percent in 2020, according to our econometric models.

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Cyprus Social Security Rate

Actual Previous Highest Lowest Dates Unit Frequency
16.60 15.60 19.30 15.60 2006 - 2019 percent Yearly

Cyprus Social Security Rate
In Cyprus, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Cyprus because they help to pay for many social programs including welfare, health care and many other benefits.

Cyprus Taxes Last Previous Highest Lowest Unit
Corporate Tax Rate 12.50 12.50 29.00 10.00 percent [+]
Personal Income Tax Rate 35.00 35.00 40.00 30.00 percent [+]
Sales Tax Rate 19.00 19.00 19.00 10.00 percent [+]
Social Security Rate 16.60 15.60 19.30 15.60 percent [+]
Social Security Rate For Companies 8.30 7.80 11.50 7.80 percent [+]
Social Security Rate For Employees 8.30 7.80 8.30 6.30 percent [+]