11.03.21
Payment of VAT in three instalments

As part of the Cyprus government’s efforts to limit the adverse effects of the Covid-19 pandemic, the House of Representatives voted on Friday, 5 February 2021 VAT Law N.5(I)/2021 which allows for the payment of VAT in three instalments for certain taxable persons for the VAT periods ending:

  1. 31 December 2020 and
  2. 31 January 2021.

Further clarifications on the law have been provided by the Tax Department with two relevant announcements, one on the 9th of February and the other one on the 15th of February.

 

Author

Demetra Constantinou
Partner - Accounting & Vat Department
VAT@kinanis.com