On the 6.12.2012, the House of Representatives passed legislation (Law.167(I)/2012) increasing VAT rates in Cyprus. In accordance with the new law:
(a) from the 14.01.2013 until the 12.01.2014, the standard VAT rate increases to 18%;
(b) from the 13.01.2014 the standard VAT rate will be 19%;
(c) from 01.01.2014 the reduced VAT rate of 8% will increase to 9%.
The reduced rates of 5% and 0% remain unchanged.
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Theodorou Law is 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.