Nicosia – A new VAT law has been published in the Government Gazette changing, among other things, VAT returns and payments to monthly for certain taxable persons. The specific businesses that are being affected have been notified by the Tax Department (TD) through the email they have provided to TAXISnet. The relevant notification, as well,...Read More

Nicosia – Further to the decision of the EU Commission to suspend customs duties and VAT on medical equipment required for the treatment of the Covid19 pandemic, the Cyprus Customs and Excise department has issued its own announcement on the matter with some technical guidance as to the relevant codes to be used on import...Read More

Nicosia – The Ministry Of Finance (MoF) issued on 10/04/2020 an announcement confirming that decree ΚΔΠ145/2020, which announced payment of VAT on account on a monthly basis for certain businesses will not be put in effect. It is noted that the only VAT measure announced under the Covid-19 fiscal package of the government is the...Read More

The EU Commission has waived Value Added Tax (VAT) and customs duties on the importation from non-EU countries of medical equipment needed to combat the effects of the Covid-19 outbreak. On 3 April, the European Commission published a decision helping Member States affected by the coronavirus pandemic to temporarily suspend customs duties and VAT on...Read More

Nicosia – Cyprus has decided to waive penalties and interest on Value Added Tax (VAT) for a period of time as part of its efforts to curtail the adverse effects of the coronavirus pandemic on the local economy. The VAT measures were enacted by the House of Representatives on 27 March 2020. The Measures The...Read More

Nicosia – The Cyprus VAT Association (CYVA) is now accepting membership applications. CYVA is a newly-formed association aiming at bridging the communication gap between businesses and Value Added Tax (VAT) professionals with the government, the Tax Department and lawmakers. CYVA also aims at contributing to the proper adoption of VAT European Directives and Regulations, to...Read More

Nicosia – The Cyprus VAT Association (CYVA) was recently established with the aim of providing a unified and independent voice to all professionals and businesses in Cyprus on Value Added Tax (VAT) matters. According to the Association’s Articles of Association, its main objectives are to promote VAT tax, legal and related matters with the Government,...Read More