Value Added Tax (VAT) was introduced in Cyprus in 1992. All regulations (registration, declaration, compliance with Cypriot VAT) are governed by the directives of the European Union on VAT. The administrator of VAT in Cyprus the Tax Department operating under the Cypriot Ministry of Finance.
Foreign companies and non-resident entrepreneurs are obligated to register their activities for Cypriot VAT purposes. Such businesses are required to:
Certain trade situations require foreign entrepreneurs to register their activities with the appropriate Cypriot tax authorities. Registration for Cypriot VAT is necessary in cases like:
IMPORTANT! Entrepreneurs providing services and selling goods online to consumers within the EU, whose turnover from such sales exceeds 10,000 euros (for all countries), instead of registering for Cypriot VAT, may register for VAT OSS.
The Cypriot tax authority requires the completion of forms and the submission of the following documents:
You can find the Cypriot tax office at the following link: https://www.mof.gov.cy/mof/tax/taxdep.nsf/index/index?opendocument
The VAT department usually assigns a unique VAT number within three days of registration. Each EU member state has a specific VAT number format. In Cyprus, it looks like:
Country code: CY
Format: 12345678X
Number of characters: 9
The last character must be a letter.
Each of the companies registered with the Cypriot tax office as a non-resident VAT entity is obligated to report taxable transactions through periodic submission of tax declarations. Importantly, Cypriot VAT4 declaration forms are available only in the Greek language.
Quarterly VAT declarations are typically required. However, the VAT accounting period may depend on the type of business activity and will be communicated to the taxpayer at the time of registration.
19% | standard |
|
9% | reduced |
|
5% | reduced |
|
0% | zero |
|
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