- The Commission opened an infringement procedure against Cyprus.
- Cyprus failed to fully transpose the directive on VAT rates.
- The directive is Council Directive EU 2022/542 from 5 April 2022.
- Member states had a deadline of 31 December 2024 to transpose the directive.
- The directive permits wider use of reduced VAT rates.
- Zero rates are allowed for essential products like food and pharmaceuticals.
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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