Cyprus Government_reduction of VAT rate to support tourism accommodation and catering sector services

The Cyprus Parliament has voted the reduction of the VAT rate from 9% to 5% from 1^st July 2020 until 10 January 2021.

The reduction is applied to the following areas:

– Hotel and tourist accommodations

– Restaurants and catering services

– Transportation services of passengers within the Cyprus Government

You can contact our accounting department for more clarification needed at antonis@gstaxconsultants.com