VAT Registration and Reporting Services in Cyprus

The threshold for VAT registration in Cyprus is 15,600 EUR, which means that every Cypriot company, as soon as it reaches the aforementioned turnover, must be registered as a VAT payer. Nevertheless, transactions which are not subject to VAT and are not taxable in any other way, do not contribute to this turnover. This means that, if a Cypriot business only supplies services which are outside of the scope of VAT (for example, services provided to customers established or based outside of the European Union), turnovers generated by these services do not add up to the VAT registration threshold and the company is allowed not to register as a VAT payer.

VAT registration becomes mandatory if a Cyprus company supplies services to other EU entities. Also, a Cyprus business might be liable to register for VAT due to acquisition of certain goods and/or services.

Voluntary VAT registration is possible as well, however, authorities usually ask to provide quite a lot of information about the business and its transactions, therefore it is worth considering whether this is viable at the stage in which the business does not yet generate substantial turnovers.

Nomad Law provides a full scope VAT advisory, VAT registration and VAT reporting services in Cyprus. Moreover, this solution is included in our company management package and can be combined with various other corporate governance related services, such as accounting and audit. Do not hesitate to contact us for more information.