The European Commission disagreed with parliament’s compromise proposal over reduced VAT on homes, deputies at the House finance committee heard on Monday, amid an impending deadline just over a week from now.
Last week the House finance committee agreed to a deal providing for the abolition the distinction between apartments and houses, while imposing a reduced VAT at five per cent for the first 190 square meters for properties valued up to €350,000.
Source: cyprus-mail.com
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