Cyprus new reduced VAT rate at 3%
Cyprus introduces a new reduced VAT rate at 3% and includes certain goods at zero VAT rate. Also, a temporary measure consisting of VAT rate reduction for basic products.
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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.
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Cyprus to allow VAT payments in installments in 2021
Cyprus tax officials announced that taxpayers will have the option to make their VAT payments in installments for certain reporting periods.
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No fiscal representation in Cyprus post-Brexit
The tax authorities in Cyprus announced that UK companies will not be obliged to appoint a fiscal representative in light of Brexit.
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Cyprus extends domestic reverse charge to electronic devices
To tackle VAT fraud, the Cypriot authorities are extending the reverse charge mechanism to electronic devices
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EU challenges Italy and Cyprus for their VAT rules on chartering
The European Commission took action against Italy and Cyprus for their current tax breaks on the yachting industry.
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VAT on Chartering: EU prompts Malta and UK for Some Rules Adjustment
The European Commission challenged the Maltese VAT rules on Yachts and private jets.
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Mandatory electronic VAT returns in Cyprus
All Cypriot VAT returns must be submitted electronically since 2 May 2017.
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Changes in VAT rate on Cyprus on efficient energetic units
New object included in the reduced VAT rate on Cyprus: the government announced a new reduced VAT rate on efficient energetic units installed in houses.