The House of Representatives voted on Friday, 5 February 2021 VAT Law N.5(I)/2021, which allows for payment of VAT in three instalments for certain taxable persons for the VAT period ending 31 December 2020 and 31 January 2021.
The Tax Department followed the publication of the above law in the Cyprus Government Gazette with an announcement offering further clarifications.
See below the legislation and the Tax Department announcement for your reference: