The Council of Ministers announced the categories of businesses that are excluded from the right to defer VAT payments as announced on 29 March 2020. Those businesses are electricity power companies, supermarkets, minimarkets, food retailing, retail sale of fuel, pharmacies, telecommunication providers.
The Ministry of Labour has uploaded online application forms related to benefits of Cyprus citizens and companies due to coronavirus crisis. Forms must be completed diretcly through online systems from the allowences regarding parent leave, sicknes from coronavirus, self employees and businesses that have completely or partially suspended operations.
The VAT measures the Cyprus Government recruited to help curtail the adverse effects of the coronavirus pandemic on the local economy were enacted by the House of Representatives on 27 March 2020.
Based on the announcement of the House of Representatives, the VAT rates will not be reduced as announced last week but decided the waive the penalties and interests.
