Whilst Cyprus follows the EU rules on VAT compliance, it is still free to set its standard (upper) VAT rate. The only proviso is that it is above 15%. Suppliers of goods or services VAT registered in Cyprus must charge the appropriate VAT rate, and collect the tax for onward payment to the Cyprus tax authorities through a VAT filing see Cyprus VAT returns briefing.
Given the complexities of VAT as well as continuous changes in the EU VAT Directive and local legislation, we can assist with full compliance of your transactions in respect of this important area.
We treat each case as unique and care will be taken based on local legislation as well as CJEU cases based on which the law is interpreted broadly.
Once registered for Cyprus VAT, you will have to start following the local rules in a number of aspects. This includes:
VAT consulting on local and international existing or new structures
VAT review of the company’s or individual’s financial statements
especially companies that might be exposed to VAT registration and/or
VAT advice on particular transactions;<br><br>
• Negotiating and agreeing outstanding cases with Cyprus VAT Authorities
Assistance for applying for a VAT advanced ruling
VAT trainings/seminars tailored to each client’s activities/needs
VAT due diligence