Cyprus Mail
News in Brief

VAT going up to 19 per cent

VAT will rise one percentage point from 18 per cent to 19 per cent from January 13, while the reduced rate of VAT will go up 1.0 per cent to 9.0 per cent.

The increase does not affect products and services which are subject to the reduced rate of 5 per cent VAT or to anything currently zero-rated VAT, the VAT services said in a statement.

Legal persons affected by the change are obliged on the day before the increase to make an inventory of their stock. The inventory should be recorded in a special registry and kept for a period of six years, the services said.



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