Cyprus is a member of the European Union and its primary VAT legislation is governed by the Cyprus Value Added Tax Law 95(I) of 2000, which has undergone amendments to align with EU regulations.
The main VAT regulations in Cyprus are outlined in the Value Added Tax (General) Regulations, 2001. Like its EU counterparts, Cyprus has updated its VAT laws in several respects. The nation adopts three VAT rates: a standard rate of 19%, and lower rates of 9% and 5%.
Source GlobalVATcompliance
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