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Cyprus V.A.T. and Other Taxes

Cyprus Value Added Tax
  • In most cases, VAT is 19% as from January 13, 2014.
  • There are reduced rates of VAT of 5% and 9% that refer mainly to food and agricultural products.books, newspapers, rural transportation etc.
  • VAT is charged on assets and services in Cyprus as well as on imports into Cyprus.
  • Exports are not subject to VAT.
  • There is a liability for VAT when the annual turnover is in excess of EUR 15,600.
  • V.A.T. returns are filed on a quarterly basis.

Cyprus Inheritance and Gifts Tax:
  • There is no tax on gifts.
  • Inheritance tax, estate duty, was abolished in Cyprus.

Cyprus Immovable Property Tax
  • The tax is imposed annually on the real estate market value as of 1.1.1980.
  • The tax rates are 0.6%-1.9%.
  • Property having a value of less than EUR 12,500 is tax exempt.
  • The tax is paid each year on 30 September.

Cyprus Transfer Tax
  • Transfer of real estate is subject to a transfer tax of 3%-8% of the market value.

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