Value Added Tax When Buying Property in Cyprus - inflatable buildings for sale
When Cyprus accepted the euro in January 2008, many believed that VAT would be added to all property purchases, which was not the case.Any property purchase that receives its planning permit by May 1, 2004 will not have a VAT application, and all property that applies for a construction permit after May 1, 2004 will increase VAT, no matter when the agreement comes into effect, it is signed between the developer and the buyer.At present, VAT is not applicable for the purchase of vacant land, but as of January 6, 2008, VAT is available for all purchases.
In regard to V.
Prices for other goods and services almost all goods and services charge a standard 15% fee.There are some exceptions, and there are four VAT rates depending on the goods or services: 15%, 8%, 5% and 0%.In addition to alcoholic beverages, hotel accommodation and the transportation of passengers by taxi and bus, the restaurant has a tax rate of 8%.
The rate of 5% applies to the services of writers, artists, chengunderta, agricultural products (fertilizers, live animals, animal food, seeds.) Non-bottled water, books, newspapers, transportation, coffins, newspapers, books, periodicals, certain products provided for people with special needs, ice cream, and rental of camping places and RV parks.Medicines and air tickets, banking services, medical and dental services are taxed at zero rates or exempt from any VAT.
There is also a lease or lease of real estate, the supply of real estate, except for a part of a building or building and the land in which they live, if the application for a building permit is submitted after 1st of May 2004, financial services, lottery tickets, social welfare, education, sports, cultural services, and insurance trading areas are all at zero rates.Foreigners visiting Cyprus also have special exemptions so that they can shop duty-free.According to V.A.T.Legislation, tourists from countries outside the EU can-V is required to be recovered.
Goods exported to countries outside the EU in hand luggage.On arrival in Cyprus, temporary visitors do not have to pay any duties and VAT for the goods they carry with them.Cleo is the owner of Cyprus Marketing Solutions Ltd.
A company based in Paphos that offers proven Internet marketing solutions that specialize in property sales for Cypriot families relocating and purchasing properties in and around the Paphos area