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24th March 2025
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Legal Matters

Scrap 5% reduced VAT rate for foreign property buyers

AKEL has proposed a bill scrapping the 5% reduced VAT rate for foreign nationals buying or building homes in...
Legal Matters

Home raids to ensure 5% VAT compliance

Tax Department officials will be conducting raids on homes and apartments in the coming days. They suspect that some...
Legal Matters

5% VAT rate on new homes extended

Parliament has passed a law, with 34 votes in favour and one against, granting beneficiaries to request a reduced...
Legal Matters

Reduced VAT on new homes gets thumbs up from Europe

The European Commission has given the nod to the levying of the reduced 5 per cent VAT on first...
Latest News & Updates

Paphos luxury resort linked to alleged Russian tax fraud

A luxury resort in Paphos built near environmentally sensitive land on the coast of Paphos got its first financing...
Articles

Why Cyprus Must Change its VAT policy on homes

Inspired by Greece's success, there's a proposal to fully suspend VAT on houses in Cyprus, mirroring Greece's 0% VAT...
Legal Matters

Law on first homes reduced VAT passed

By nearly a unanimous vote, and under the watchful eye of Brussels, parliament on Thursday passed a law allowing...
Legal Matters

Stakes raised in 5% VAT rules fiasco

The European Commission has decided to send a reasoned opinion to Cyprus for its failure to properly apply EU...

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