Cyprus Announces More VAT Payment Flexibility

One of the measures taken by the Cyprus cGovernment back in May 2020 to support the economy and workforces affected by the Coronavirus pandemic was referring to the reduction of the VAT rate applicable on tourism...

As of 11 January, Cyprus will revert to the normal 9% VAT rate (instead of the reduced 5%) for passenger transport, restaurants, hotel accommodation, and catering services. The reduced 5% vat rate period expired on 10...