Deferred VAT Payments can be made in Installments
As part of the Cypriot Government measures to reduce the impact of the COVID 19, in accordance with Law 147 (I) / 2020, tax payers were originally given the right to defer VAT payments up until November 10, 2020 for the VAT periods ending on 29/02, 31/03 and 30/04/2020.
On November 3rd, 2020, the Tax Department of Ministry of Finance Cyprus, announced an extension to the above mentioned right of deferral. As a result VAT payments for the above mentioned periods can now be made in six (6) equal installments starting from November 10th, 2020 to April 10th, 2021. There will be no imposition of additional tax or/and interest on these VAT dues.
For further information and clarifications please contact us via email at info@zambartaslegal.com or via telephone +357 22262108