Tagged: VAT

Cyprus: VAT Reduction for Home Renovations

Cyprus government intends to lower VAT for all home renovations from 19% to 5%
During a speach at the Annual General Assembly of the Cyprus Chamber of Commerce and Industry, in Nicosia, President Nicos Anastasiades said that the proposal is expected to be adopted during the next Cabinet meeting.

According to In Cyprus, the lower VAT will apply in renovations of all dwelling units, and not just in the case of primary residence.

The President explained that vulnerable consumer groups and residents of remote communities will also benefit from lower VAT when repairing their homes to upgrade their structural adequacy or to improve their energy efficiency.