• As from January the 13th 2014 Cyprus Vat Rate is going up to 19% for the standard rate after revised legislation.
  • The reduced Cyprus Vat Rate which till now was 8% will go up to 9%.
  • The reduced Cyprus Vat Rate applies under Schedule 12 of the Cyprus VAT Law, to 3 main categories as follows:
  1. Restaurants and catering generally
  2. Hotels and Tourism generally
  3. Transport tickets and all forms of transport
  • Services and / or goods which fall within the 5% and / or 0% Vat Rates are not affected, as applied by Schedules 5 and 6 of the Cyprus Vat Law.

All those who are affected Cyprus Vat Rate Increased to 19% change in legislation for the standard Cyprus Vat Rate on January 12th 2014 will have to take stock of their inventory.

Cyprus Vat Rate Increased to 19% – It affects only the General category

Agreements and contracts which have been signed before January the 13th of 2014, will be considered valid and will be accepted by the Cyprus Vat Authority. However goods or services which are to be delivered or rendered after that date will be charged on the increase Cyprus Vat Rate. For any payments that are received after the 13th insert full date for goods or services made prior to the 13th insert full date the original rate of 18% will apply.

Cyprus Vat Rate Increased to 19% : For agreements which have been executed before the 13th of January will stand at 18% and the contractors have the liability to account for outgoing vat goods or services at the standard Vat Rate or 19%. Despite the above the Vat Bearers will have to take into account some tax points so that they can account in time for VAT with regards to services and or goods supplied by them. Those tax points are the following:

Regarding goods the time is the earliest of:

  • The Date of delivery of the goods,
  • The Date of issuing of the invoice,
  • The Date of receiving payment for the goods,

Regarding rendering of services, the time is the earliest of:

  • The Date of completion,
  • The Date of issue of an invoice,
  • The Date of receiving the payment,

Regarding continuous suppliers of services the time is the earliest of:

  • The Date of issuing of the invoice,
  • The Date of receiving the payment.

Cyprus Vat Registration Number

Every company in Cyprus on its incorporation has to register with the Cyprus Vat Authority and get a Cyprus Vat Registration Number if its turnover is more that nineteen thousand Euro, regardless of the fact that it will not be liable to pay vat tax in Cyprus. The registration of a Cyprus company with the Vat Authority and securing the Cyprus Vat Registration Number is matter of two to three days after the necessary application is filed. Anyone can fill in and file such application who knows how to do it. Our firm offers Cyprus Vat Services to our clients, which includes filing the vat returns every three months and paying the vat tax if any is payable.


Cyprus Vat Registration

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