VAT Taxable Transactions
VAT is levied on the supply of goods and services in Cyprus and the import of goods in Cyprus from inside/outside the EU.
VAT Standard Rate
The standard rate of VAT is 19%.
VAT Reduced Rate(s)
The reduced rates of VAT are 9%, 5% and 0%.
VAT Exempt Transactions
Leasing or letting of immovable property, the supply of immovable property with the exception of buildings or parts of buildings and the land on which they stand if the application for a building permit was submitted after the 01/05/2004, financial services, lotteries, medical care, social welfare, education, sports, cultural services, insurance transactions are exempt from VAT in Cyprus.
VAT Registration Threshold
The registration threshold for VAT purposes in Cyprus is €15,600 (€10,251 for intra-community acquisition of goods).
VAT Filing & Payment
Filing of VAT returns and the payment of VAT liability is made every 3 months.