ARTICLE
23 February 2023

VAT Rates For Services And Products Related To The COVID-19 Disease

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Eurofast

Contributor

Eurofast is a regional business advisory organisation employing local advisers in over 21 cities in South East Europe, Middle East & the Baltics. The Organisation is uniquely positioned as one stop shop for investors and companies looking for professional services.
With an announcement from the Tax Department, the zero rate for products and services related to the COVID-19, ceases to apply.
Cyprus Tax

With an announcement from the Tax Department, the zero rate for products and services related to the COVID-19, ceases to apply. Starting from 01/01/2023 the below VAT rates will enter into force:

  • 5% VAT for vaccine deliveries related to the disease;
  • 19% VAT for:
  1. Deliveries of in vitro diagnostic medical technology products
  2. Services related to these products, unless they fall under the excluded transactions (based on the Seventh Appendix of the VAT Legislation)

However, the Tax Department announced a few days later that for the period 13/01/2023 - 31/03/2023 the vaccine deliveries and the deliveries of in vitro diagnostic medical technology products will eventually fall under the zero VAT rate (0%). For additional information or assistance by our local advisors please contact Mr. Nikolaos Lioufis, Invoicing & Collection Manager, at our Eurofast office in Cyprus at nicosia@eurofast.eu

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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