The value-added tax is a type of corporate tax in Cyprus that applies to the supply of goods and services and complies with the EU rules and regulations for compliance with this type of tax.
As highlighted below by our Cypriot accountants, there are several categories of VAT or rates that differ according to the types of goods or services provided by the company.
According to law, the Cypriot VAT rates are as follows:
Business owners in Cyprus are required not only to observe the VAT rate for their respective category, according to the types of products or services they offer, but also to make sure that they comply with all of the other VAT reporting requirements.
An important step after the registration of the company is to register for VAT purposes and then submit the VAT returns accordingly (usually on a quarterly basis). The experts at our accounting firm in Cyprus can help you with complete services related to VAT compliance and submission as well as issuing invoices that observe the VAT requirements and maintaining the proper records.
Contact our Cypriot accounting firm for complete information about VAT return forms and deducting the VAT, when possible.