Cyprus

Information provided by the IBA Taxes Committee members.

Value Added Tax

  • Temporary two-month suspension of payment of VAT without the imposition of penalties, for certain businesses.
  • Temporary reduction of VAT rates.

Corporate Income Tax

  • A two-month extension to the filing deadline for income tax returns due by 31 March 2020.

Social Security Contributions/Payroll Tax

  • The non-payment, for a period of two months in April and May 2020, of the increase in contributions (effective from March 2020) to the general healthcare system by employers, employees, and the state.

Other relief measures

  • N/A

Additional comments

  • N/A