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6 min read In App Dec 22

Money, Tax & Work

Income tax 2026, VAT rates, minimum wage, social insurance.

Updated: Parliament approved a major tax reform: tax-free threshold raised to €22,000, new family deductions, and minimum wage increased to €1,088.

Money, Tax & Work

Currency

Cyprus switched to the euro (€) on 1 January 2008, becoming one of the first Eastern Mediterranean countries in the eurozone. Before that, the Cypriot pound (Κυπριακή λίρα, Kypriakí líra) was used.

In practice t

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