VAT on the Purchase of Cyprus Land

16:31 - 30 Ιανουαρίου 2018

A new bill imposing Value Added Tax (VAT) on the supply of building land has been approved by the Cyprus Parliament and has come into force on the 2nd of January 2018. The bill has amended the Value Added Tax Law (95(I)/2000) (VAT Law) so that a VAT rate will be levied on transactions of undeveloped building land which are carried out after the 2nd of January 2018 for business purposes.

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