Amendments to the Income Tax and VAT Legislation

Recent amendments to the Income Tax and the VAT legislations were recently voted by the House of Representatives, the summary of which are stated below. INCOME TAX LAW The House of Representatives has voted on 25 October 2012 to extend the law on special settlement of the tax liabilities up …

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Recent amendments on the VAT legislation

VAT on Construction Services The VAT Department announced recently an amendment on the VAT treatment of construction services. As from 9th of March 2012, provision of construction services from a VAT registered person to another VAT registered person qualifies for zero rate VAT. The supplier should clearly state in the …

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Changes on Tax Laws

Certain changes on tax laws were voted by the House of Representatives on 11 July 2013 in order to provide financial assistance to the taxpayers due to the latest economic developments in Cyprus. These changes are as follows: 1. Immovable Property tax: The immovable property tax for the fiscal year …

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