This Tax Reform Package provides a high-level summary of the main legislative amendments introduced under Cyprus’ tax reform, effective from 1 January 2026.
Welcome to the 2025 edition of Cyprus Tax Facts. We are delighted to present our updated comprehensive guide, offering essential insights into the latest advancements in tax legislation.
Welcome to the 2024 edition of Cyprus Tax Facts. We are delighted to present our updated comprehensive guide, offering essential insights into the latest advancements in tax legislation.
On 26/4/2021 an amendment to the Cyprus VAT Law was published in the official Gazette which exempts from VAT educational services for vehicle technicians.
On 29/4/2021 an amendment to the Cyprus VAT Law was published in the official Gazette which precludes the imposition of penalties in specific cases
The European Commission has issued a press release on 12/4/2021 according to which it has proposed to exempt from Value Added Tax (VAT) goods and services made available by the European Commission, EU bodies and agencies to Member States and citizens during times of crisis.
Following the amendments of the Cyprus VAT Law that were announced in the Government Gazette on 20/08/2020, the Tax Department will impose penalties, as from 1st July 2021, in relation to the non-application of the reverse charge mechanism.
The Cyprus Tax Department has issued Implementing Regulation No.11/2021 of 17 February 2021, providing clarifications in relation to the time of supply in cases of non-monetary consideration in the construction industry.
On January 7th 2021, the Tax Department issued clarification announcements in relation to the exit of the United Kingdom (UK) from the EU.
The Tax Department has issued a notice reminding that in accordance with Regulation ΚΔΠ 268/2020 the reduction from 9% to 5% of the VAT rate which applies to the aforementioned services is effective only for the period from 1/7/2020-10/1/2021.
Indirect taxation is becoming ever more complicated, getting on top of the complexity and change is vital.
Whilst corporate tax avoidance continues to grab headlines, some of the biggest reforms are in fact occurring within indirect tax.