VAT:

 

The rate of VAT in Cyprus is currently15%

Vat on property is chargeable as from 1^st may 2004.  A rate of 15% vat is charged on all new properties.  For projects, Vat is paid on the selling price of the property.  Land & building cannot be separated.

Vat is exempt in property where an application for planning was submitted before 1 May 2004