VAT requirements
- Thread starter akshdalal
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Only a Cyprus resident company can be registered for VAT, only requirement is to provide 1 proforma invoice, once provided the company can be registered for VAT.
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Here is actually a good government page showing the latest VAT rate's http://www.mof.gov.cy/mof/vat/vat.nsf/DMLrates_en/DMLrates_en?OpenDocument
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Yes that's true, 18% VAT apply!
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There are actually ways on how to minimize the cost that companies shell out for taxes. Eighteen percent is just too much to bear so others result to illegal and complicated deals just to get their products and services through. This, however, is not recommendable. You should appeal to the administration in case you want to pay lower. They grant special permits for those who do.
To tell you honestly, I am not really familiar with the process. I just know it from experience. Loyalty is always rewarded especially in business. You can try asking government offices for this. Surely, they will be more than happy to accommodate you.
It depends on what you are selling as you may see on the link I gave you 🙂
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