Cyprus extends domestic reverse charge to precious metals

Cyprus extends domestic reverse charge to the purchase of raw and semi-finished precious metals. This is effective since 7 October 2022.

7 November, 2022


Cyprus extends the scope of domestic reverse charge to the purchase of raw and semi-finished precious metals. This update is effective since 7 October 2022.

See the official Decree here.

Therefore, if the product falls under the category of raw and semi-finished precious metals, the reverse charge mechanism applies provided that:

  • Both the supplier and customer are taxable persons – B2B transaction.
  • The purchase has a business purpose.
  • Supplier requirements
    Taxable person at the moment of the supply
  • Customer requirements
    Taxable person at the moment of the supply
  • Scope
    Supplies of raw and semi-finished precious metals for a business purpose

Companies and businesses purchasing raw and semi-finished precious metals must keep a record book of these transactions for six years.


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