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Cyprus Value Added Tax
- In most cases, VAT is 15%.
- There are reduced rates of VAT of 5% and 8% 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.
Cyprus Inheritance and Gifts Tax:
- There is no tax on gifts.
- Inherritance tax, estate duty, was abolished in Cyprus.
Cyprus Immovable Property Tax
- The tax is imposed on the real estate market value.
- The tax rates are 2.5%-4%.
- Property having a value of less than EUR 170,860 is tax exempt.
- The tax is paid each year on 30 September.
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