The Decree of the Council of Ministers extended the application of a zero VAT rate on specific goods.
Decree of the Council of Ministers K.D.P. 231/2024 (dated June 28, 2024) extended to September 30, 2024, the application of a zero value added tax (VAT) rate on the following specific goods:
Effective since May 5, 2023
Effective since November 1, 2023
Effective since December 1, 2023
The tax authority on August 26, 2024, also announced that the submission of VAT objections through the Tax For All (TFA) portal—originally scheduled for September 3, 2024—has been postponed. VAT objections must be submitted using the current procedure until further notice, and the tax authority will issue a new announcement to communicate the revised date for submitting VAT objections through the TFA portal.
Read a September 2024 report prepared by the KPMG member firm in Cyprus