Indirect Tax Update Recent VAT Amendment Indirect Tax Update Recent VAT Amendment
Date: May 17th 2021
Amendment of Schedule Seven of the CY VAT Law which exempts from VAT educational services for vehicle technicians
On 26 April 2021, the Amending Law Ν.72(Ι)/2021 was published in the Official Gazette of the Republic. A new subparagraph was added under paragraph 9 of Table A of Schedule Seven, which defines which educational services are exempt from VAT.
The new subparagraph exempts from VAT educational organizations which, according to the provisions of the Law on ‘Vehicle Technicians’, are authorized to provide a training program, to organize relevant examinations, as well as to issue a certificate of basic training of vehicle technicians.
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.
