- Amendments to Cyprus VAT law on real property take effect September 1, 2026.
- Changes include revised rules for when building transfers are subject to VAT and new definitions affecting reduced VAT rates for residential property.
- The amendments impact developers, property owners, and transactions near the transition date.
- They affect eligibility for reduced VAT on primary residences, especially if the property was previously used.
- Pricing, contracts, and VAT compliance processes may need adjustment.
Source: kpmg.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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