Value Added Tax (VAT)

According to Cyprus VAT Regulations a taxable person is obligated to charge VAT on his taxable supplies (VAT output) and deduct any tax allowable paid on taxable supplies (VAT input) of goods or services received and accounts for the balances to the VAT services. If VAT output in a VAT period exceeds total VAT input a payment has to be made to the VAT authorities. If VAT input exceeds VAT output the excess VAT input is carried forward as a credit and set off against future VAT output.

Chr. Marinou& Co provides advice on the best treatment of income and expenses in accordance with the VAT law applicable in Cyprus.

We provide consulting on the treatment of income and expenses, in accordance with the applicable VAT law in Cyprus. Therefore, VAT implication on the transactions of the companies is taken into account as it helps with the tax planning for a Group of Companies.

We hand over assistance for matters such as:

  • Companies to register with the VAT authorities in Cyprus.
  • In obtaining a VAT Group registration when applicable.
  • In obtaining a VAT ruling from the Commissioner of Taxation in Cyprus.
  • In registering a company with the INTRASTAT system.
  • In the administration of the payment of applicable taxes.
  • In the examination of companies by the Cyprus Tax Department.
  • On VAT advisory services on transactions to be entered by the Company / Group.