Cyprus Value Added Tax
- In most cases, VAT is 19%.
- 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 Transfer Tax
- Transfer of real estate is subject to a transfer tax of 3%-8% of the market value.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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