Cyprus Tax Authority Notice of VAT Payment

Cyprus Tax Authority Notice of VAT Payment

The Cyprus Tax Department advises that for the VAT return for the period ending 31/5/2020, the deadline for filing and paying VAT is July 10, 2020. On this basis, the VAT due must be paid on 10/7/2020. Otherwise, the payment is considered late and subject to an additional tax of 10% and other fees.

The suspension of VAT payment is only valid for VAT tax returns that expire on 28/2/2020, 31/3/2020 and 30/4/2020.

In addition, the Tax Department advises that for those taxable persons for whom tax periods were changed to monthly periods in April 2020, this change will be reversed from January 7, 2020.

Taxpayers will be notified by email to the last email entered into the TAXISnet system during their next tax period in order to return to the regular quarterly tax period.

We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.