Chesterfield (London) 
207 Old Marylebone Road
Tel: +44 (0) 203 771 3853
Fax: +44 (0) 203 771 3856

Cyprus VAT Registration

Registering for VAT in Cyprus has several advantages. As Cyprus is a full member of the EU with a modern and respected tax regime it is ideal for businesses looking to do business in Europe using a reputable company set-up. It has a competitive VAT rate when compared to other EU countries. Cyprus VAT Registration and credits are processed quickly.

VAT is imposed on the provision of goods and services within Cyprus as well as on the importation of goods into Cyprus. Cyprus first introduced VAT in 1992 and largely based this on the British VAT legislation of 1983 and adjusted accordingly to meet requirements of the Cypriot economy. This was further amended in 2002 introducing several regulations in order to be in line with the EU VAT directive and also improving administration and procedural framework. Further amendments were made in 2004 due to Cyprus’s inclusion in the EU.

Holding companies fall outside the scope of VAT in Cyprus and any holding company registered in Cyprus engaged exclusively to holding activities in not entitled or obliged to register for VAT purposes.

Trading companies engaged in general trading may register with the VAT authority in Cyprus which when trading within the European Union is mandatory.

Registration is compulsory for businesses which;

  • Have a taxable turnover from the supply of goods in Cyprus in excess of €15,600 during the twelve preceding months
  • The expected turnover is in excess of €15,600 from the supply of goods in Cyprus in a period of 30 days following registration
  • Receives goods in Cyprus from other member states of a total value higher than €10,251.61
  • Receives services from abroad, either from EU countries or from countries outside the EU in excess of €15,600
Businesses with an annual turnover with less than €15,600 have the option to register voluntarily. There are reduced rates depending on the business activity. There is zero rate on exported goods although if exported to another EU member state they have to meet some requirements.

The VAT aspects of transactions and other transactions involving EU countries are becoming more and more complex. Anyone not familiar with the rules should seek specialized VAT advice and guidance. Chesterfield have employees who are expect in the field of VAT.

Out VAT services include;
  • Cyprus VAT Registration or de-registration
  • Completion and submission of VAT returns
  • Preparation and Submission or recapitulative statement (EC Sales Lists)
  • VAT advice
  • Liaising with VAT authorities with regards to enquiries

    If you would like further information on Vat in Cyprus or any other location please follow the link below or call us on our offices Telephone Number: 44 20 7097 1385

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