How the calculation works
- Social insurance (16.6%) and HRDA (0.5%) on insurable earnings: the higher of your profit and your category's 2026 weekly minimum × 52, capped at the 2026 maximum of €1,325 a week (€68,904 a year in the SIS table).
- GeSY (4%) on your self-employed profit, up to €180,000 of income.
- Deduction: social insurance + GeSY, limited to one fifth of your profit (the 1/5 limit in form TD59 2026, note 10, which also covers life insurance, medical and pension funds), plus any other deductions you enter.
- Income tax on the remaining taxable income with the 2026 scales: 0% to €22,000; 20% to €32,000; 25% to €42,000; 30% to €72,000; 35% above.
- Provisional tax: the income tax split into two equal instalments (31 July and 31 December 2026), or one instalment by 31 December if you started after 30 June. If you underpaid the first instalment, interest at 3.50% a year is estimated on the shortfall for each completed month after 31 July.
Check the income tax part against the Tax Department's own 2026 income tax calculator. The worked examples and the reasoning behind the deduction are in our guide how much tax to set aside as a freelancer in Cyprus; the occupational minimums and payment dates for contributions are in social insurance for the self-employed in Cyprus.
Key provisional tax dates for 2026
| What | Legal deadline | No interest or 5% charge if paid by |
|---|---|---|
| 1st instalment (declaration + payment) | 31 July 2026 | 31 August 2026 |
| 2nd instalment, last day to revise the estimate | 31 December 2026 | 31 January 2027 |
| Balance of 2026 tax (with any 10% additional tax) | With the 2026 tax return; EY and Deloitte give 31 January 2028 | |
Declarations, revisions and payments go through the Tax Portal (tax code 0200 for provisional tax). Late payment costs a 5% charge, a further 5% after two months, and interest at the public default rate, which is 3.50% a year from 1 January 2026.
What this calculator leaves out
- Other income (salary, rent, dividends, foreign income) and foreign tax credits.
- Special regimes, such as the 50% or 20% exemptions for people taking up employment in Cyprus. Those apply to employment income, not to self-employed profit.
- The exact way the Social Insurance Services and the GeSY reconciliation on your tax return settle contributions for the year, and contributions you have already paid.
- VAT. If you charge VAT, hold it separately; see Cyprus VAT registration for freelancers.
General information based on official Cyprus sources and Big Four tax alerts checked on 22 October 2026. Not tax advice. Confirm your figures with the Tax Department, the Social Insurance Services or a Cyprus accountant.