Find general guidance about taxes and requesting tax statement when using Wise Interest.
When you turn on Interest, you’re investing in units in an accumulating money market fund. You can see more information about the funds here.
If you're a tax resident in Cyprus, you should be exempt from tax on any profit arising on disposals of your units in the fund — through spending, sending, converting or simply moving money within Wise or to an external account.
Cyprus tax residents may be required to contribute to the NHIS (National Health Insurance System) on their worldwide income, which will include Wise fund income.
Filing a tax return
Cypriot tax residents may need to report their income from the fund in their annual tax returns.
You can find more information at Cyprus’s Ministry of Finance, Tax Department website.
If you're a sole trader using Wise Interest passively, the guidance above may apply to you.