Cyprus's VAT rates set to increase
The standard VAT rate in Cyprus of 18% will increase to 19% as of the 13th of January 2014. The reduced VAT rate which is currently 8% is increaded to 9%.
The reduced VAT rate in Cyprus applies to those goods and services falling under schedule 12 of the Cyprus VAT legislation:
The main VAT reduced categories in Cyprus include:
- Passenger transport,
Goods or services that fall within the reduced rate of 5% and 0% will remain unaffected, these are included in schedules 5 and 6 of the Cyprus VAT legislation.
Increased of standard VAT rate in Cyprus
Effective 14 January 2013, the current standard VAT rate of 17% will increase to 18%.
Effective 13 January 2014, the standard VAT rate of 18% will increase to 19%
Also effective 13 January 2014, the reduced VAT rate of 8% applies for services under Schedule 12 of the Cyprus VAT law (including catering services, passenger
and baggage transport within Cyprus via taxi or bus).
VAT rates for Cyprus need to be adjusted on e-commerce systems.
Below please find a short reminder how to modify Cyprus tax rates on your WSI e-commerce applica...