VAT Calculator Cyprus – Vatcalcguide

Like any other country, VAT plays an essential role in the economy of Cyprus; value added tax generates revenue for the government and promotes economic growth. With the help of a VAT calculator Cyprus, users can calculate the VAT rate on different products and services.

VAT Rates in Cyprus

Three vat rates are applied in Cyprus 19%, 9%, and 5%. The current standard VAT rate is 19%, and reduced vat rates are 9% and 5%.

19% VAT rate: The current standard VAT rate in Cyprus is 19%, applied to most goods & services like electronics, furniture, newspapers, magazines etc.

9% VAT rate: The 9% reduced VAT rate is applied to hotel accommodation, restaurant services, food, pharmaceutical products etc.

5% VAT rate: 5% reduced VAT rate is applied on construction and purchasing of dwell.

Check Also: Vat Calculator Netharlands

History of VAT rates in Cyprus

Conclusion

In conclusion, Cyprus VAT Calculator can be a handy tool for business persons and individuals; it helps save their time and provides an instant solution.