Following the enactment of Law 167(I)/2012 by the House of Parliament on the 6.12.2012, the standard rate of VAT in Cyprus increased from 17% to 18% from the 14.01.2013.
As of the 13.01.2014 the standard VAT rate will again increase to 19%.
With regards to reduced rate VAT, this will increase from 01.01.2014 from the current rate of 8% to 9%. It should be noted that reduced rates of 5% and 0% VAT will remain unchanged.
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Theodorou Law s a Cyprus law firm with Cyprus lawyers and other legal experts on legal matters involving Cyprus law, EU law and international law. The above should be used as a source of general information only. It is not intended to give a definitive statement of the law and is subject to the disclaimer.
