Jul 3 23

Change in the application of the reduced VAT rate of 5% for the acquisition or construction of primary and permanent residences in Cyprus

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On 16 June a VAT Amendment Law was published in the official gazette of the Republic of Cyprus, which introduces changes to the conditions for the application of the reduced VAT rate of 5% for the acquisition or construction of a residence. The amending law states that the 5% VAT rate will apply only to the first 130 square meters of the buildab...