Appointment of a VAT fiscal representative for UK businesses in Cyprus – important change!!!
The Tax Department in Cyprus has now issued a formal announcement that, on the basis of the Protocol on Administrative Cooperation and Combating Fraud in the field of value added tax and on mutual assistance for the recovery of claims relating to taxes and duties, which is part of the EU-UK Trade and Cooperation Agreement, Cyprus will NOT require UK non-established persons to appoint a VAT fiscal representative in Cyprus or provide a bank guarantee.
The above will remain in force unless the TCA is not duly ratified (currently applicable provisionally as from 1 Jan 2021).
Source
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