UK Postpones Tax Increase on Cyprus Pensions Following Protests

The UK and Cyprus were in recent talks about increasing taxation to UK residents receiving pensions in Cyprus. Under the 2018 rules, residents would no longer be eligible to receive tax-free retirement funds.

After protests from the armed services on the island, Cyprus Treasury Ministers signed an agreement which will effectively defer the tax amendments for another 5 years before bringing it into national law, meaning that the reduced rate for pensions will remain until 2024.