VAT

November 3, 2020

Effect of Covid 19 on Cyprus Tax Residency and Permanent Establishments

In early April 2020, the OECD released their guidance on how certain issues dealt with under the model OECD tax treaty will be affected by COVID-19. On 27 October 2020 Cyprus Tax Department published a Circular № 04/2020 based on these guidelines, clarifying the issues relating to residency during the pandemic.
September 8, 2020

Important Amendments To The Assessment And Collection Of Taxes Law – LAW 126(I)/2020

On 20th August 2020, the Cyprus Government published in the Official Government Gazette an amendment to the Assessment and Collection of Taxes Law that comprises a number of amendments to the mechanisms for implementing the direct tax laws.
August 28, 2020

Important Amendments To The Cyprus VAT Law – N. 121(I)/2020N & N. 122(I)/2020

On 20th August 2020, the Cyprus Government published in the Official Government Gazette an amendment to VAT Law, aiming to improve the VAT collection and combat VAT fraud.
July 15, 2020

Cyprus Government Announces VAT Measures In Order To Minimise The Effects Of The Coronavirus Outbreak On The Cyprus Tourism Industry

Further to our previous VAT updates regarding the decision taken by the Cyprus government to use Value Added Tax (VAT) as a fiscal policy tool for restricitng the adverse effects of coronavirus (Covid-19), on the local economy, we would like to highlight the following:
April 24, 2020

VAT DECREE (ΚΔΠ 170/2020) – Monthly VAT Return Submission and Payments

As per the latest Regulatory Administrative Act (ΚΔΠ 170/2020), published in the Gazette on the 16th of April 2020, businesses who have received a relevant Email Notification will have to submit VAT Returns and pay the relevant VAT liability on a monthly basis. On the same date, the Tax Department issued explanations with regards to the decree.
April 14, 2020

Update: Value Added Tax (VAT) Measures For Addressing The Effects Of Coronavirus Outbreak On The Cyprus Economy

Further decisions taken by the Cyprus Government regarding the use of Value Added Tax (VAT) as a fiscal policy took for restricting the adverse effects of Coronavirus (COVID-19)
April 8, 2020

Cyprus Parliament votes measures for addressing the effects of Coronavirus outbreak to the Cyprus economy

Summary of the Cyprus Governmental measures announced and of the legislative amendments voted.
April 2, 2020

Update: Cyprus Government announces Value Added Tax (VAT) measures for addressing the effects of Coronavirus outbreak on the Cyprus economy

The use of Value Added Tax (VAT) as a fiscal policy tool for restricting the adverse effects Coronavirus outbreak on the Cyprus economy.
May 9, 2019

VAT on Long-Term Leases of Immovable Property

The Cyprus Tax Department issued on 27 December 2018 an Interpretative Circular (EE229 – VAT treatment of the effective transfer of the right to use an immovable property), clarifying the treatment the application of the amending Act with number 39(I) of 2018 which has come into force on 1 January 2019.

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