Cyprus and Italy in hot water over tax breaks for yachts
The European Commission on Thursday said it was taking further steps to end illegal tax breaks in the yacht industries in Cyprus and Italy first
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VAT
Taxman on brink of busting huge evasion network, he says
By George Psyllides The tax department is on the brink of busting one of the biggest VAT dodging network on the island dealing with intra-community
Bill seeks to lower VAT on land for primary residence
The government is preparing a bill exempting from payment of the full 19 per cent VAT, purchases of undeveloped land for the purpose of building
Customs marks 50 years of union
Cyprus customs play an active role in the European Customs Union and a basic role in the movement of goods and passengers in and out
Tax department looking to tax Airbnb rentals
Tax authorities are now eyeing short-term property rentals such as Airbnb which, due to loopholes in the law, are not subject to tax. The matter
Tax break for young couples buying land for first home
The government has submitted to parliament a draft bill indirectly exempting from payment of 19 per cent VAT young couples who buy land for the
MPs plan to streamline transfer fees and VAT on land sales
Lawmakers plan to draft a bill aiming to eliminate a distortion where certain buyers of real estate must pay property transfer fees while others do
European Commission probes VAT on yachts
The European Commission announced on Thursday it has opened infringement procedures against three member states – including Cyprus – for not charging the correct amount
VAT regulation for villas to let remains unclear
By Antonis Loizou FRICS There are many questions which are not answered by the new VAT authority regarding real estate. Residential lets are exempted from
Trying to understand new VAT rules
By Antonis Loizou FRICS We are at a loss over what the new VAT provisions are all about. We have read the law over and
Football clubs VAT debts to be wiped off (Update 2)
Some €19.5m in debt owed by football clubs to the state will be written off following a cabinet decision, President Nicos Anastasiades announced on Wednesday
MPs seeking to extend tax arrears payment scheme
Lawmakers will this week be voting to extend the deadline for applying for a scheme regarding the settlement of taxes in arrears. Under the scheme,
MPs seek to ease the pain of VAT increase on building plots
Lawmakers on Monday sought to further tweak an EU harmonising bill whereby the state would levy 19 per cent VAT on building and development
House looks at formula to ease VAT on land sales
Ruling Disy and socialists Edek will jointly table a legislative proposal allowing non-payment of capital gains tax (CGT) until the end of 2018, to
Adding VAT could cause problems
By Antonis Loizou FRICS THE EU is placing pressure on the Cyprus government to introduce the (19%) on building and development plots. The matter is
EU fines loom if VAT on land sales not imposed
MPs on Monday continued discussion of a government bill which would impose 19 per cent VAT on land sales for commercial property transactions, amid
MPs give taxman added powers to seize valuables
THE House plenum approved unanimously on Friday the regulations for the seizure of the movable property of those who have accumulated debts to the Tax
Power supply to north extended, as sides discuss payment
By Andria Kades While the Electricity Authority of Cyprus (EAC) is extending its power supply to the occupied north for another 20 days, Turkish Cypriots
VAT slashed for home improvements, subsidies for new solar water heaters
The cabinet on Tuesday approved a lower VAT rate of 5 per cent for all house renovations, deputy government spokesman Victoras Papadopoulos said. Speaking after
Reduced rate of VAT for all home renovations
The government intends to extend the reduced VAT rate of 5 per cent instead of the standard 19 per cent rate to cover all house