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Legal Matters

Cyprus MP seeks extension to reduced 5% property VAT

A proposal submitted to the House of Representatives on Thursday seeks a one-year extension to the transitional period during...
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Cyprus cracks down on 5% VAT fraud

Politis reports that increased scrutiny is being placed on homes located in Cyprus' coastal regions as the Tax Department...
Legal Matters

Scrap 5% reduced VAT rate for foreign property buyers

AKEL has proposed a bill scrapping the 5% reduced VAT rate for foreign nationals buying or building homes in...
Legal Matters

Home raids to ensure 5% VAT compliance

Tax Department officials will be conducting raids on homes and apartments in the coming days. They suspect that some...
Legal Matters

5% VAT rate on new homes extended

Parliament has passed a law, with 34 votes in favour and one against, granting beneficiaries to request a reduced...
Legal Matters

Reduced VAT on new homes gets thumbs up from Europe

The European Commission has given the nod to the levying of the reduced 5 per cent VAT on first...
Latest News & Updates

Paphos luxury resort linked to alleged Russian tax fraud

A luxury resort in Paphos built near environmentally sensitive land on the coast of Paphos got its first financing...
Articles

Why Cyprus Must Change its VAT policy on homes

Inspired by Greece's success, there's a proposal to fully suspend VAT on houses in Cyprus, mirroring Greece's 0% VAT...
Legal Matters

Law on first homes reduced VAT passed

By nearly a unanimous vote, and under the watchful eye of Brussels, parliament on Thursday passed a law allowing...
Legal Matters

Stakes raised in 5% VAT rules fiasco

The European Commission has decided to send a reasoned opinion to Cyprus for its failure to properly apply EU...
Legal Matters

EU rejects proposed VAT cut

The European Commission disagreed with parliament’s compromise proposal over reduced VAT on homes, deputies at the House finance committee...
Legal Matters

House U-turn on first homes VAT deal

Cypriot MPs made a U-turn over a compromise on reduced VAT for smaller first homes, backed by the European...
Legal Matters

Lawmakers again discuss reduced VAT on homes

Lawmakers on Monday discussed for the umpteenth time the matter of reduced VAT on homes, with reports suggesting the...
Legal Matters

EU extends deadline to change property VAT laws

Lawmakers on Monday revisited the issue of reduced VAT on homes, with some trying to instil a sense of...
Legal Matters

Amend property VAT laws or else!

The European Commission has given Cyprus until mid-February to enact new legislation governing the levying of reduced VAT on...
Legal Matters

Europe issues VAT ultimatum on new homes

The European Commission has sent an ultimatum to Cyprus regarding the island's abuse of the European Directive on reduced...
Legal Matters

MPs seek deal on reduced VAT for new homes

MPs seek a compromise on reduced VAT for first homes after the European Commission initiated infringement proceedings against Cyprus...
Legal Matters

Compromise VAT bill on new homes

The government has retabled a bill for reduced VAT on first homes, aiming to find the sweet spot between...
Legal Matters

Pushback to VAT change on home buys

MPs are undecided on whether to pass a European Union directive reducing the size of homes entitled to lower...
Legal Matters

Higher VAT on smaller homes ‘spells disaster’

A European Union directive to reduce the size of homes entitled to lower 5% VAT has real estate agents...
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