Cyprus VAT Rate change
Cyprus announced today that it is set to increase its VAT rate in stages. You may recall that it had one of the lowest rates (15%) some time ago, however driven by economic issues the VAT rate has risen steadily and is set to continue.
The latest rises have been imposed as part of a bailout plan by the EU, ECB and IMF.
- The rate rose from 15% to 17% last year.
- The next rise will be 1 Jan 2013 when it will increase to 18%
- With a scheduled rise to 19% on 1 Jan 2014.
The reduced rate will also rise in 2014 from 8% to 9%.
Date: 10th December, 2012
Articles from this Author
12th October, 2017
Inward Investment VAT
2nd May, 2017
VAT Implications of Brexit
9th March, 2017
Spring Budget 2017 - VAT snippets
25th November, 2016
Autumn Statement 2016 - VAT and indirect tax round-up
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
Foreign Direct Investment Post Brexit bit.ly/2iizp47 Andy Crook's latest article in our UK Inward Investment publication
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole