05.16.23

VAT reduction on basic goods

Cyprus, following recent VAT changes in the country, is proposing yet further changes as part of its fiscal overhaul- including a reduction in the standard rate and reduced rate for specific goods. The move endeavours to target basic everyday goods such as milk and eggs and is expected to last until 31 October 2023.

Cyprus is a compliant territory for Tungsten Network and our solution supports all valid VAT rates in the country.