VAT Decree Κ.∆.Π. 268/2020 was published today, 23 June 2020, in the Official Gazette of the Republic of Cyprus in respect of the previously announced plans of temporary reduction from 9% to 5% of the VAT rate applicable to:
The VAT Decree can be found here (see pages 5-6, available in Greek only).
Courtesy of Silviya Ivanova, Independent VAT consultant
(1) hotel accommodation
(2) restaurant and catering services, and
(3) passenger transport in urban, intercity and rural taxis and tourist and intercity buses,for the period from 1 July 2020 until 10 January 2021.
Schedule 5 the Cypriot VAT Law (95(I)/2000-2020) is amended accordingly by adding sub-paragraphs (18), (19) and (20) respectively and Schedule 12 is amended by deleting sub-paragraphs (1), (2) and (3).