Following the Indirect Τax Update 175 sent on 2 November 2020, regarding the extension of payment of VAT amounts due from 10/11/20 to 10/4/21 in six (6) equal installments, through this supplementary announcement you are informed that the extension of payment also covers the balances of the monthly tax returns submitted for the months of May and June on 27/6/20 and 27/7/20 respectively.

How can KPMG assist?

Should you like to further discuss the content and potential impact of the Circular to your business, please contact one of our trusted advisors from the Indirect Tax Department at KPMG Cyprus.

KPMG’s Indirect Tax team provides advice and assistance at the Cyprus and international level. We structure our effort to dovetail with your business issues and strategy. Our focus is on supplying value adding and pragmatic advice rather than just a list of recommendations.

Our tax professionals are able to review your company’s current tax position and provide relevant advice and planning on a range of indirect taxes, including VAT, customs duties and excise taxes (such as tax audits, reorganizations and acquisitions, etc.). Furthermore, we can help your company with its administrative obligations and contacts with administrative bodies.