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Government of Cyprus, VAT

Update – Changes to the Reduced VAT Regime on First Homes

June 2, 2023June 2, 2023Michalis C. Zambartas5%, Cyprus, EU Commission, First home, Reduced VAT, VAT

The House of Representatives of Cyprus is set to vote today, 02 June 2023 on a bill for amendments to the reduced VAT regime on the purchase and construction of
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cryptocurrency
Compliance, Financial Services, International Tax

European Union Finance Ministers Agree on New Tax Transparency Rules for Crypto Asset Transaction Facilitators Serving Clients Resident in the EU

May 18, 2023May 18, 2023Michalis C. ZambartasAutomatic Exchange of Information, crypto, crypto asset, Crypto-assets Regulation, digital currency, EU Commission, MiCA, tax transparency, Transfer in Fund Regulation

On 16 May 2023, the European Commission published a press release announcing that the EU Finance Ministers agreed on new tax transparency rules for all service providers, which are based
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permanent residency permit
Citizenship, Immigration

Relocation of Highly Skilled Employees in Cyprus: an update in Numbers

May 5, 2023May 5, 2023Michalis C. ZambartasBFU, Cyprus, employees, Foreign Interest Company, high tech, highly skilled, Invest Cyprus, Israel, Lebanon, Russian, Ukrainian

According to Invest Cyprus, the national agency to attract foreign investment, since the commencement of the war in Ukraine nearly 9000 highly skilled Ukrainians were granted residence and work permits,
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VAT
VAT

Cyprus to Apply Zero Per Cent (0%) VAT on Basic Items

May 3, 2023May 3, 2023Michalis C. Zambartas0%, consumer, Cyprus, food, reduced rate, VAT, zero per cent

On May 2, 2023, the Cyprus Council of Ministers (Cabinet) approved a Decree to amend the VAT legislation to apply zero (0%) per cent VAT rate on certain consumer goods
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Citizenship, Immigration

Cyprus Revises Permanent Residency Permit Regulations Granted to Non-EU Nationals by Way of Investments

May 2, 2023May 3, 2023Michalis C. ZambartasCyprus, investments, non-EU nationals, permanent residency, permanent residency permit

Once again, the Cyprus Government revised the criteria regarding the expedited process of granting an immigration permit to applicants who are nationals of third countries and invest in Cyprus. The
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Government of Cyprus, VAT

Update: Cyprus Changing its Regime on Reduced VAT for First Homes

April 4, 2023April 6, 2023Michalis C. Zambartas5%, Cyprus, EU Commission, First home, real estate, Reduced VAT, VAT

In connection to our article “Cyprus Changing its Regime on Reduced VAT for First Homes: an Update” published on 28 March 2023, regarding the reduced VAT regime legislation changes, the
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Rating
Financial Services, Government of Cyprus

Moody’s Maintains Stable Outlook on Cyprus’ Banking System

March 31, 2023April 3, 2023Michalis C. Zambartascreditworthiness, Cyprus, interests, Moody's, NPL, rating, stable outlook

In its report published on 29 March 2023, the rating agency Moody’s maintained a stable outlook on Cyprus’ Banking System. According to the report, Cyprus’ bank creditworthiness will remain stable
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Tax Law, VAT

Cyprus Changing its Regime on Reduced VAT for First Homes: an Update

March 28, 2023March 28, 2023Michalis C. Zambartas5% reduced VAT, Cyprus, EU Commission, First home, Reduced VAT, VAT, VAT regime

The newly formed Cyprus Government and the House of Representatives reached an informal agreement to resolve the issue of the imposition of a reduced VAT rate of 5% for the
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Citizenship, Immigration

Cyprus Civil Registry and Migration Department Terminates the Electronic Booking Platform for Appointments

March 20, 2023March 24, 2023Michalis C. Zambartasappointment, Civil Registry and Migration Department, CRMD, Cyprus, electronic appointment, termination

On 16 March 2023, the Civil Registry and Migration Department of Cyprus announced that the use of the electronic platform for appointment arrangement at the Civil Registry and Migration Department
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VAT
Government, Tax Law

Cyprus Introduces a New Computerised Unified Tax Management System “Tax for All”

March 17, 2023March 27, 2023Michalis C. ZambartasCyprus, direct taxation, Tax for All, tax management system, Taxisnet, TFA, VAT, VIES

On 17 January 2023, the Tax Department of Cyprus announced the replacement of the TAXISnet platform and other smaller tax platforms with the new unified tax management system “Tax For
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Recent Posts

  • Update – Changes to the Reduced VAT Regime on First Homes
  • European Union Finance Ministers Agree on New Tax Transparency Rules for Crypto Asset Transaction Facilitators Serving Clients Resident in the EU
  • Relocation of Highly Skilled Employees in Cyprus: an update in Numbers
  • Cyprus to Apply Zero Per Cent (0%) VAT on Basic Items
  • Cyprus Revises Permanent Residency Permit Regulations Granted to Non-EU Nationals by Way of Investments

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