Value Added Tax
For more detailed information about Value Added Tax, please either scroll down on this page (quicker) or use the main menu on the left.
- Rentals of property
- Supplies of immovable properties
- Insurance and financial services
- Medical services, hospital services
- Educational services
- Postal Services
- Disposal of land to be used for building purposes
Registration for VAT is obligatory:
- At the end of any month, if the value of the taxable supplies (supplies taxed at the rates of 0% and/or 5% and/or 15%) in the period of one year, then ending has exceeded ₤9.000, or
- At any time, if there are reasonable grounds for believing that the value of the taxable supplies in the period of 30 days, then beginning will exceed ₤9.000.
Businesses with a turnover of less than ₤9.000 can be registered voluntarily.
A person who has a business establishment in Cyprus, or his usual place of residence is in Cyprus, and he acquires supplies outside Cyprus (taxable supplies if made within Cyprus), is entitled to voluntary registration.
To persons who trade outside the Republic goods and services which would have been taxable if they were provided within the Republic, group of companies and company divisions.
- Expenditure for entertainment of persons other than staff
- Purchase of private saloon cars up to nine seats.
Merchandisers who undertake sales to or purchase from (including triangular trade) other EU Member States need to submit the following forms, in addition to the quarterly VAT Return:
EU Acquisitions (Purchases):
Intrastat (detailed reporting of all physical arrivals of goods - all items - in Cyprus)
- Inclusion in VAT Return (on a total basis)
EU Supplies (Sales):
- Intrastat (detailed reporting of all physical departures of goods - all items - in Cyprus)
- VAT Information Exchange System form (VIES form - detailing allsales, including triangular transactions)
- Inclusion in VAT Return (on a total basis with 0% VAT rate)
- VAT Return - 40 days from the end of VAT reporting quarter
- VIES - 40 days from the end of the calendar quarter, for the transactions of the calendar quarter
- Intrastat - 10 days from month end for transactions of previous month