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Taxes in Cyprus are levied by both the central and local governments. Tax revenue stood at 39.2% of GDP in 2012. [ 1 ] The most important revenue sources are the income tax , social security , value-added tax and corporate tax , and are all collected by the central government.
Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a ...
Founded in 1933, it has the aim of offering assistance to the private motorist, in Cyprus and abroad, and to promote the interests of car owners in general. The CAA is a member of the Fédération Internationale de l'Automobile (FIA) and the Alliance Internationale de Tourisme (AIT).
Car make and model. Avg. annual full coverage rate. Avg. annual min. coverage rate. BMW 300i. $2,513. $598. Toyota RAV4. $1,869. $612. Honda Odyssey. $ 1,735. $ 575
TRNC car and motorcycle licences can be obtained at the age of 18, following a theory and practical exam on public roads. the price of driving licence is about 6000tl or 300 dollar. Despite the TRNC being an internationally unrecognised state, TRNC licences are valid for use worldwide for the time frame set by the relevant country, [ citation ...
Public blue buses operated by OSEL in Solomos Square, Nicosia A taxi in Cyprus. Road transport is the dominant form of transport on the island. Figures released by the International Road Federation in 2007 show that Cyprus holds the highest car ownership rate in the world with 742 cars per 1,000 people. [11]
The state and local tax (SALT) deduction allows taxpayers to deduct up to $10,000 of the money they spent on certain state and local taxes — including property, income and sales tax.
According to 2002 statistics, the road network in the Republic of Cyprus-administered areas of Cyprus consists of about 7,206 km of paved and 4,387 km of unpaved roads. Although the first motorway in Cyprus, A1 , was completed as recently as October 1985, the country already has the most motorway km per capita (36.8 km /100,000 inhabitants ...