It is noted that the supply of land is not subject to VAT in cases where the supply is an occasional transaction. On the other hand, VAT could be levied even if the supplier is not in the business of selling land.
Source: Mondaq
Latest Posts in "Cyprus"
- Cyprus Raises Annual Intrastat Arrivals Reporting Thresholds for EU Goods Movements
- Cyprus Extends 0% VAT on Essential Goods Until December 2026 to Aid Households
- Cyprus Clarifies VAT Rates for Events Combined with Restaurant or Catering Services
- Tax Authorities Clarify VAT Rates Applicable to Admissions for Different Events
- Cyprus Clarifies VAT Rates for Admissions to Cultural Events, Restaurants, and Performances
