Amendment of VAT Law for Small Businesses in Cyprus
June 12, 2025
The Cypriot Parliament has voted to amend the VAT law in line with a European directive concerning small businesses. The new regulation allows small businesses based in other member states to be exempt from VAT if they meet specific turnover thresholds. This is expected to facilitate the operations of SMEs and reduce their administrative burden. It emphasizes the importance of equal treatment for all businesses in the internal market.