The Cyprus Tax office announced the 10-year government bond yield rates as at 31/12/2020 for a number of countries. These rates increased by 5% (the reference rate) can be used for calculating the notional interest deduction on new equity introduced in the business (01/01/2015 onwards). The choice of country depends on where the new equity has been invested. The NID is restricted to 80% of taxable profits generated by the application of the new equity.

The rates below apply for estimating NID for the year ended 31 December 2021.

A/A

Country

31/12/2020

NID Reference Interest Rate 2021

1

Abu Dhabi

1,681

6,681

2

Albania

N/A

N/A

3

Argentina

3,269

8,269

4

Armenia

7,485

12,485

5

Australia

1,005

6,005

6

Austria

-0,433

4,567

7

Azerbaijan

N/A

N/A

8

Belarus(US$)

6,075

11,075

9

Belgium

-0,388

4,612

10

Bermuda(US$)

1,783

6,783

11

British Virgin Islands

N/A

N/A

12

Bulgaria

0,19

5,19

13

Canada

0,675

5,674

14

Cayman Islands

N/A

N/A

15

China

3,18

8,18

16

Costa Rica

9,627

14,627

17

Croatia

0,548

5,548

18

Cyprus

0,136

5,136

19

Czech Republic

1,252

6,252

20

Denmark

-0,459

4,541

21

Dubai(?)

N/A

N/A

22

Dubai (US$)

2,594

7,594

23

Egypt

14,006

19,006

24

Egypt(US$)

6,678

11,678

25

Estonia

-0,211

4,789

26

Finland

-0,425

4,575

27

France

-0,343

4,567

28

Germany

-0,388

4,612

29

Guernsey

N/A

N/A

30

Greece

0,19

5,19

31

Hong Kong

0,541

5,541

32

Hungary

2,135

7,135

33

India

5,865

10,865

34

Ireland

-0,318

4,682

35

Isle of Man

0,985

5,985

36

Israel

0,77

5,77

37

Israel(US$)

1,551

6,551

38

Italy

0,541

5,541

39

Ivory Coast

N/A

N/A

40

Jordan(US$)

4,48

9,48

41

Kazakhstan (?)

0,653

5,653

42

Kazakhstan (US$)

4,03

9,03

43

Kenya

11,977

16,977

44

Latvia

-0,18

4,82

45

Lebanon

N/A

N/A

46

Lithuania

-0,197

4,803

47

Luxembourg

-0,415

4,585

48

Morocco

2,403

7,403

49

Mauritius

1,58

6,58

50

Netherlands

-0,49

4,51

51

Nigeria

7,261

12,261

52

Nigeria(?)

N/A

N/A

53

Norway

0,944

5,944

54

Poland

1,229

6,229

55

Portugal

0,026

5,026

56

Romania

2,959

7,959

57

Russia

5,91

10,91

58

Russia (US$)

1,546

6,546

59

Saudi Arabia

2,399

7,399

60

Serbia

3,48

8,48

61

Singapore

0,834

5,834

62

Slovakia

-0,52

4,48

63

Slovenia

-0,187

4,813

64

South Africa

8,736

13,736

65

Spain

0,043

5,043

66

Sweden

0,022

5,022

67

Switzerland

-0,523

4,477

68

Taiwan

0,3

5,3

69

U.S.A

0,916

5,916

70

Ukraine (?)

N/A

N/A

71

Ukraine (US$)

6,052

11,052

72

United Arab Emirates

N/A

N/A

73

United Kingdom

0,192

5,192

74

Vietnam

2,202

7,202

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.