On 29/12/2017 and on 02/01/2018 the Cyprus Income Tax offices issued the circulars EE219 and EE220 regarding the imposition of VAT on the: sale of non-developed building land, leasing of commercial immovable property in Cyprus. The law for imposition of 19% VAT on the above transactions is effective from 02/01/2018. As per the law and guidance issued from Income Tax office the main provisions […]
On 10 October the relevant committee of the Cyprus parliament discussed the issue of obligatory submission of the VAT return by businesses. Some of the MPs have requested that assistance to be provided to small business for their first electronic submission. The relevant authorities will examine the issue to satisfy the concerns raised. The obligatory electronic submission of the VAT form is expected to be […]
