OrbitaxCyprus Providing VAT Payment Extensions, VAT Rate Reductions, and Return Extensions in Response to COVID-19
|Approved Changes|Cyprus
The Cyprus Ministry of Finance has announced a number of measures that are being taken to address the COVID-19 pandemic. Key measures include:
- a two-month suspension of VAT payment obligations for businesses with turnover not exceeding EUR 1 million in 2019 and businesses whose turnover has been reduced by more than 25%, with arrangements for VAT due to be paid gradually;
- a temporary reductio…
