Cyprus
VAT Name :
Φόρος Προστιθέμενης Αξίας (ΦΠΑ) (Fóros Prastithémenes Axías)
VAT Number Format :
12345678X (9 characters. The last character must always be a letter)
VAT Information Offices :
Cyprus Tax Department
Corner of Michalaki Karaoli and Gregori Afxentiou Street
1096 Nicosia
RATES
| Rate | Type | Which goods or services |
|---|---|---|
| 19% | Standard | All other taxable goods and services |
| 9% | Reduced | Hotel accomodation; Restaurant and catering services; Cafes, Domestic passenger trasnport by road and sea |
| 5% | Reduced | Books (except e books), magazines and newspapers; Certain foodstuffs; Non alcholic beverages; Water supplies; Medical equipment for disabled persons; Childrens car seats; Writers and composers; Hairdressing; Pharmaceutical products; Medical equipment; Admission to cultural events and amusement parks; Admission to sports events and use of sports facilties; Social housing; Takeaway food (excl alcholic beverages); Works of art; Collectors items; Antiques; Domestic waste collection; Certain works to private dwellings |
| 0% | Zero | Intra EU and international transport; Goods purchased on international flights |
EXEMPTIONS
- Supplies in public interest (ambulance, hospital, postal services, not for profit organisations)
- Financial and insurance services
- Admission to sporting events, lotteries
- Cultural services
THRESHOLDS
Registration Threshold : EUR 15.600
– A voluntary registration can be made
Distance Selling Threshold : EUR 35.000
Intra-Community Acquisition Threshold : EUR 10.251,61
VAT Free Shopping for Tourists : EUR 50
PENALTIES
Late Registration : EUR 85 (per month of delay)
Late Deregistration : EUR 85 (one off fee)
Late Submission : EUR 51 (per return)
Late Payment : 10% on amount due and 4% yearly interest (charged monthly)
– Similar penalties for late VIES and Intrastat returns
– High penalties for serious fraud
DEADLINES
Assessment Period : 6 years
Time Limit for Adjustments : 3 years (which can be amended by the tax office)