VAT Archives - Financial Mirror

Price hikes buffered by 0% VAT measure

A hike in prices of essential products has been constrained by a government decision to waive VAT on items, including milk, nappies, and bread; however, reports of abuse have been filed by

13th June 2023

Cyprus/Economy

5% VAT on smaller first homes

Nicosia hopes to convince Brussels to end a legal process against Cyprus after MPs approved a law on 5% VAT for smaller first homes, which falls short of an EU directive. The

9th June 2023

Cyprus/Property

House confident of latest VAT homes bid

Cypriot MPs are confident their latest compromise on reduced VAT for smaller first homes will convince Brussels to waive an infringement process launched against Cyprus. In comments to the Financial Mirror, the

2nd June 2023

Cyprus/Property

Impasse over 5% VAT proposal for first homes

Brussels has shot down a compromise proposal on reduced VAT for smaller first homes, tabled by the MPs, ruling it as state aid. The proposal was the latest in a series of

30th May 2023

Cyprus

More items to get zero VAT

The government will add more commodities to a list of essential products carrying zero VAT to ease the cost-of-living crisis. Two weeks after introducing the first list of items with zero VAT,

24th May 2023

Cyprus/Economy

House U-turn on VAT for homes deal

Cypriot MPs made a U-turn over a compromise on reduced VAT for smaller first homes, backed by the European Commission. MPs increased the total area of the home entitled to reduced VAT

23rd May 2023

Cyprus/Property

EU accepts compromise on VAT home discount

According to reports, Brussels would greenlight a compromise on reduced VAT for first homes, tabled by Cypriot MPs under pressure to beat the 8 June deadline of introducing legislation to harmonise Cyprus

22nd May 2023

Cyprus/Property

MPs near compromise on VAT home discount

MPs are seeking a compromise on the thorny issue of reduced VAT for first homes, under pressure to beat the 8 June deadline of introducing legislation to harmonise Cyprus’ laws with the

16th May 2023

Property

Zero VAT on essential items

The government will remove VAT on some foodstuffs to relieve households from inflationary pressures and a hike in interest rates, announced Finance Minister Makis Keravnos. Despite March seeing the lowest inflation rate

27th April 2023

Cyprus/Economy

Government mulling zero VAT on some items

The government is considering removing VAT on some foodstuffs to relieve households from inflationary pressures and a hike in interest rates. Despite March seeing the lowest inflation rate for 13 months, households

19th April 2023

Cyprus/Economy