- The European Commission has initiated an infringement procedure against Cyprus for failing to fully transpose Directive 2022/542 on VAT rates into national law by the 31 December 2024 deadline.
- The Directive grants Member States greater flexibility to apply reduced and zero VAT rates on essential goods like food, medicines, and medical products.
- Cyprus has received a letter of formal notice and has two months to respond; if the response is unsatisfactory, the Commission may proceed with a reasoned opinion.
Source ec.europa.eu
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