Country Cyprus
Currency Euro
EU Member State Yes
Standard VAT rate 19%
Reduced VAT rate 5% / 9%
VAT registration limit for established businesses 15600 Euros
VAT registration limit non-established businesses 15600 Euros
VAT registration limit distance sales 35000 Euros
VAT return filing periods Quarterly
Annual returns No
VAT recovery by non-established non-EU businesses Reciprocal agreements with certain businesses
Reverse Charge Yes for the majority of cross border activity
Extended reverse charge Yes, this applies to supplies of services made by non-established businesses to VAT registered customers in Cyprus as well as certain supplies within Cyprus.
Fiscal representative required for non-EU businesses In certain instances for business outside the EU
Statute of limitations Please contact Essentia for specific limitations