Cyprus Value Added Tax

• In most cases, VAT is 19%.
• There are reduced rates of VAT of 3%, 5% and 9% that refer mainly to food and agricultural products, books, newspapers, rural transportation etc.
• VAT is charged on assets and services in Cyprus as well as on imports into Cyprus.
• Exports are not subject to VAT.
• There is a liability for VAT when the annual turnover is in excess of EUR 15,600.
• V.A.T. returns are filed on a quarterly basis.

Cyprus Inheritance and Gifts Tax:

• There is no tax on gifts.
• Inheritance tax, estate duty, was abolished in Cyprus.

Cyprus Transfer Tax

• Transfer of real estate is subject to a transfer tax of 3%-8% of the market value.