EU greenlights VAT cuts on electricity bills
The European Commission’s VAT committee has approved the government’s proposal to cut VAT on household electricity bills, the finance ministry announced on Monday. A statement...
VAT
Additional cut to VAT on electricity bills for three months
The government has notified the EU of its intention to cut VAT on household electricity bills from 19 per cent to 9 per cent for...
MPs fail to agree over VAT cut on electricity bills
An Akel proposal to slash VAT on electricity bills from 19 per cent to 9 per cent to shield consumers from rising prices came before...
Akel bill for further cuts, VAT being discussed by MPs next week
A bill tabled by main opposition Akel suggesting further cuts to VAT on electricity bills will be discussed at the next House finance committee after...
Place Christmas online orders now, Post Office urges
The pandemic and Brexit created a perfect storm of delays for online shoppers last winter The Post Office is urging shoppers to place online orders...
Cabinet cuts VAT on electricity bills for vulnerable groups
The cabinet on Thursday approved a reduction of VAT from 19 per cent to 5 per cent on electricity bills for vulnerable groups for six...
New EU VAT rules will not negatively affect Cypriot shoppers
EU-wide changes to VAT regulations concerning online shopping will not harm Cypriot consumers, the House finance committee on Monday concluded during a meeting with finance...
Cyprus post to return VAT to those who paid twice
Cyprus post on Friday announced they will return the VAT paid in the island as well as postal charges to recipients of packages from non-EU...
VAT ruling has radically changed payment orders
Liability of company directors for VAT debts turned upside down By Nicolas Tsardellis and Angelos Antonellos Under article 46(12) of the VAT Act 2000 (95(I)/2000),...
What the UK-EU trade deal means for car imports
British car company bosses were handed a generous gift on Christmas Eve in the form of the announcement that Boris Johnson’s post-Brexit trade deal with...
Commission approves €33m Cypriot scheme deferring payment of VAT
The European Commission has approved a €33 million Cypriot aid scheme deferring VAT payments to ease the liquidity constraints of companies affected by the coronavirus...
Pay up or face sanctions, tax department warns
The tax department has started sending letters to individuals and companies who owe large sums of money in VAT, including 100 with debts of over...
Cyprus among top three EU performers in recouping VAT
EU countries lost €137 billion in Value-Added Tax (VAT) revenues in 2017, according to a study released by the European Commission on Thursday. Cyprus with...
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...
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...