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

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 Finance Committee of the House of Representatives had a meeting again on 03 April 2023 to discuss the matter and the reports suggest that the Government will propose another bill which could take a very different form than the original proposal and present it to the House of Representatives right after the Easter holidays ( after the 17th of April and onwards).
It should be noted that the political parties reserve the right to make their own amendments before putting forward the legislation for a vote.