Month: June 2023

Deadline for payment of temporary tax

In accordance with Article 24 of the Assessment and Collection of Taxes Law, all companies must notify the Commissioner of Taxation of their estimated taxable income for the year by 31 July 2023, and consequently pay the estimated tax in two equal instalments as follows.
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5% VAT on primary residence

We would like to inform you that on 16 June 2023, an amendment to the Cyprus VAT Law was published in the Cyprus Government Gazette concerning the new legislative framework for 5% Value Added Tax (VAT) rate on the acquisition and/or construction of a primary residence in Cyprus.
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