It concerns Cyprus businesses 1) that have been notified that their tax period changes from quarterly to monthly 2) that have not been notified but their activity code is according to the table (shown below), 3) All other companies.
Following our previous updates regarding the changes in the periods for submitting a VAT return, the following should be taken into account as clarified by the Cyprus VAT Department:
- Cyprus Companies that have been notified that their tax period is changing from quarterly to monthly – Of these companies included in the table must pay 100% of the VAT due on the relevant dates. All other companies that received notification but are not included in the table will pay VAT according to the relevant announcement, which is 30% in the first month and so on.
- Cyprus Companies that have not been notified but whose activity code is in accordance with the table – The tax period of these companies will remain quarterly and will be submitted normally, however, they will have to pay the VAT on the expiration date, i.e. they will not be allowed to pay VAT until November 10, 2020
- All other Cyprus companies – Includes companies that did not receive notification and those whose business code is not included in the table. These companies will remain on a quarterly basis, will normally submit the VAT form, and will be allowed to pay the VAT obligation until November 10, 2020. It is noted that the extension for the payment of VAT until November 10, 2020 concerns tax periods that expire on February 29. , March 31 and April 30, 2020.
35111 Electricity generators
36001 Collection and distribution of water (for water supply)
47111 Grocery and supermarkets mainly food
47112 Kiosks -mini market
47211 Retail trade in fruit and vegetables-fruit products
47221 Retail trade in meat and meat products including meat products of poultry
47241 Retail trade in bread and other bakery items
47242 Retail sale of confectionery
47301 Retail sale of fuel
47411 Retail trade in computers, regional equipment, and software incl. Videogames
47621 Retail trade in newspapers and stationery
61101 Cyprus Telecommunications Authority
61201 Internet services
61301 Satellite telecommunications services
61901 Other non-MARKETING telecommunications services
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