Date: June 7th 2021
On 28 May 2021, an amendment to the value added tax (VAT) law was published in the Official Gazette of the Republic, which introduce additional educational services that are exempt from VAT.
The new subparagraph of Table A of Schedule 7 exempts from VAT educational organizations which are authorized by the Department of Civil Aviation, to provide professional qualifications based on the European Regulations (1139/2018, 1321/2014 and 1178/2011) for:
i. Aircraft Technicians (PART 66)
ii. Aircraft Operators (PART-FCL CPL or ATPL and the relevant skills and certifications)
iii. Cabin Crew Attestations
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.
