EworksWSI Cyprus Digital Marketing Blog

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VAT in Cyprus rates increases to 19% ( this)

Cyprus's VAT rates set to increase to 19% as of January 10, 2014. The reduced Cyprus VAT rate will increase to 9% as from the same date.

Cyprus's VAT rates set to increase

VAT hike in Cyprus to 19%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:

 - Catering,
 - Tourism,
 - 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.

All businesses in Cyprus affected by the changes of the standard VAT rate are obliged to physically take stock of their inventory by close of business 12th of January 2014.

On e-commerce applications, the standard (generally T1) and reduced rates need to be adjusted with date 13/01/2014.

 




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Author: Hartmut Clasen WSI
Hartmut is running EworksWSI in Cyprus. WSI is the #1 digital marketing company worldwide with offices in over 80 countries. EworksWSI Cyprus is well equipped to bring WSI's knowledge of global digital marketing trends to your business to achieve the best results in Cyprus. Eworks WSI provides webdesign, hosting, Search marketing like PPC and SEO as well as mobile marketing services in Cyprus.

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To find out more about how WSI can work for your business: Give us a call at +357-22675747

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