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Cyprus: Reduced 5% VAT for purchase or construction of residence

A law passed by Parliament allows taxpayers to apply for a reduced 5% VAT rate for the purchase or construction of a residence.

April 19, 2024

A law passed by Parliament allows taxpayers to apply for a reduced 5% value added tax (VAT) rate for the purchase or construction of a residence within one year of acquiring the residence.

Read an April 2024 report prepared by the KPMG member firm in Cyprus

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