Tax revenue in Cyprus
Cyprus: Tax revenue was 8.32 billion current LCU in 2024. ◆ Volatile
Tax revenue in Cyprus, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
The most recent figure for tax revenue in Cyprus is 8.32 billion current LCU, measured in 2024. That is the highest value across all 53 years on record.
That represents a change of up 10.2% on the previous year and up 92.7% over ten years.
Over the whole period, tax revenue in Cyprus peaked at 8.32 billion current LCU in 2024 and was at its lowest, 58.79 million current LCU, in 1975.
That places Cyprus 130th out of 157 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 86.48 million current LCU | 58.79 million current LCU | 152.80 million current LCU | 8 |
| 1980s | 398.94 million current LCU | 192.10 million current LCU | 707.87 million current LCU | 10 |
| 1990s | 1.27 billion current LCU | 776.00 million current LCU | 1.83 billion current LCU | 10 |
| 2000s | 3.48 billion current LCU | 2.20 billion current LCU | 5.12 billion current LCU | 10 |
| 2010s | 4.64 billion current LCU | 4.24 billion current LCU | 5.40 billion current LCU | 10 |
| 2020s | 6.68 billion current LCU | 4.91 billion current LCU | 8.32 billion current LCU | 5 |
Countries ranked near Cyprus
- 127 United Arab Emirates 13.13 billion current LCU compare
- 128 Bosnia and Herzegovina 10.87 billion current LCU compare
- 129 Estonia 9.03 billion current LCU compare
- 131 El Salvador 7.60 billion current LCU compare
- 132 Latvia 7.17 billion current LCU compare
- 133 Panama 6.21 billion current LCU compare
More public sector data for Cyprus
- Arms imports 115.00 million SIPRI trend indicator values (2024)
- Tax revenue 23.9% (2024)
- Taxes on income, profits and capital gains 26.1% (2024)
- Taxes on goods and services 29.1% (2024)
- Net investment in nonfinancial assets 2.4% (2024)
- Net lending (+) / net borrowing (-) 4.2% (2024)
- Interest payments 2.8% (2024)
- Grants and other revenue 9.8% (2024)
- Interest payments 3.1% (2023)
- Other taxes 3.3% (2024)
Frequently asked questions
- What is tax revenue in Cyprus?
- Tax revenue in Cyprus was 8.32 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest tax revenue recorded in Cyprus?
- The highest recorded value was 8.32 billion current LCU in 2024.
- What is the lowest tax revenue recorded in Cyprus?
- The lowest recorded value was 58.79 million current LCU in 1975.
- How does Cyprus rank for tax revenue?
- Cyprus ranks 130th out of 157 countries with data for 2024.
- Is tax revenue rising or falling in Cyprus?
- Over the last ten years it is up 92.7%. The long-run trend across the full record is volatile.
- Where does this Cyprus data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Tax revenue (current LCU). Statizoid updates them automatically from the source API.
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About this data
Taxes are compulsory, unrequited payments, in cash or in kind, made by institutional units to government units. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.