On the 11 November 2022, and with effect from that day, an amendment was made to the Eighth Schedule of the Cyprus VAT Law, via the back door. I say ‘via the back door’ as the amendment was made via the issuance of a Decree from the Council of Ministers “CoM”. That in itself is not a problem – it is a power that the CoM possesses with regards to the Eighth Schedule, and one which has been exercised before. However, this amendment was so important that there should have been in good faith from the Department of Taxation “DoT” or the Ministry of Finance “MoF”, a public discussion. Or any discussion. And there was none. No discussion and no consultation. No heads-up. No consideration for the businesses. No respect to the professionals. It is not clear whether there was communication on this between the two as one rumour has it that the MoF sent this directly to the CoM without discussing the matter with the DoT. For the sake of our sanity I sincerely hope this was not the case.
Source Chelcovat
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