Value Added Tax was introduced in Cyprus on 1st July 1992 and is imposed on the provision of goods and services as well as on the importation of goods into Cyprus.
Registration is compulsory for a business:
Businesses with an annual turnover of less than €15,600 have the option to register voluntarily.
Standard Rate of 19%
The standard rate applies to the provision of all goods and services in Cyprus which are not subject to the zero rates, the reduced rate or are not exempt.
Reduced rate of 9%
The reduced rate of 9% applies to:
Reduced Rate 5%
The reduced rate of 5% applies to:
The zero rate applies to:
Penalties and Interest