Global Indirect Tax Community

Share knowledge, ask questions,
find answers and explore popular topics.

Activity Feed Forums EU Member States Cyprus Covid-19: VAT measures introduced in Cyprus

  • Covid-19: VAT measures introduced in Cyprus

    Posted by Maria on 17 April 2020 at 6:23 pm

    The Cypriot Tax Authorities have notified certain VAT registered persons to inform them that their VAT return periods have been amended from quarterly to monthly for the period 30 March to 30 June 2020, with the periodic return due by the 27th day of the following month (along with the corresponding VAT payment due).

    The full amount of VAT due is payable for businesses with activities that fall within any of the specific “non-affected” business sectors (e.g. retailers). However, only 30% of the VAT due is payable for taxpayers affected by the impact of Covid-19 on filing deadline and the balancing amount due by 10 November 2020 at the latest.

    Provided that the relevant VAT return is filed on time, no late payment penalties or interest should apply.

    Note that businesses which are not deemed to be impacted by the Covid-19 pandemic are excluded from the relief i.e. the relief is only available to specific industries and sectors that have been notified by the Tax Authorities.

    Maria replied 4 years, 1 month ago 1 Member · 0 Replies
  • 0 Replies

Sorry, there were no replies found.

Log in to reply.