- New rules for 5 percent VAT on homes in Cyprus effective June 2025
- Applies to Cypriot and foreign buyers for primary residences
- Eligibility requires property to be primary residence for at least ten years
- Properties for investment or rental do not qualify
- VAT benefit may be reclaimed if residence status changes within ten years
- Affected individuals should contact District Tax Office for repayment
- Payment plans available for those facing financial hardship
- Eurofast offers assistance with VAT compliance and planning
Source: eurofast.eu
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.
