News for direct TAX

VAT 5%

The Value Added Tax (VAT) on the purchase or construction of primary residences has been approved by the Plenary of the House. This significant development, with 42 votes in favor and one abstention, marks a positive step towards enhancing affordability and accessibility in the real estate sector.

Cyprus VAT system

Value Added Tax (VAT) is a tax that is imposed on the value added to goods and services during the production and distribution process. In Cyprus, VAT is governed by the Value Added Tax Law of 2002, as amended.

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