Cyprus | Tungsten Network https://www.tungsten-network.com The journey to world-class starts here. Thu, 07 Jul 2022 06:56:04 +0000 en-GB hourly 1 https://wordpress.org/?v=5.9.3 Extension of VAT reduction on domestic energy https://www.tungsten-network.com/compliance-overview/country-updates/country/cyprus/extension-of-vat-reduction-on-domestic-energy/ https://www.tungsten-network.com/compliance-overview/country-updates/country/cyprus/extension-of-vat-reduction-on-domestic-energy/#respond Thu, 07 Jul 2022 06:56:04 +0000 https://www.tungsten-network.com/compliance-overview/country-updates/country/%country%/extension-of-vat-reduction-on-domestic-energy/ Inflation is rising sharply across Europe and governments are responding accordingly with a variety of fiscal measures. Further to this, the Cypriot government has extended the reduction in VAT on domestic energy, from 17% to 9%, until 31 August 2022. This was initially expected to end at the end of June 2022.

The post Extension of VAT reduction on domestic energy first appeared on Tungsten Network.]]> Inflation is rising sharply across Europe and governments are responding accordingly with a variety of fiscal measures.

Further to this, the Cypriot government has extended the reduction in VAT on domestic energy, from 17% to 9%, until 31 August 2022.

This was initially expected to end at the end of June 2022.

The post Extension of VAT reduction on domestic energy first appeared on Tungsten Network.]]> https://www.tungsten-network.com/compliance-overview/country-updates/country/cyprus/extension-of-vat-reduction-on-domestic-energy/feed/ 0 Mandatory B2G e-invoicing planned https://www.tungsten-network.com/compliance-overview/country-updates/country/cyprus/mandatory-b2g-e-invoicing-planned/ https://www.tungsten-network.com/compliance-overview/country-updates/country/cyprus/mandatory-b2g-e-invoicing-planned/#respond Wed, 06 Oct 2021 21:00:00 +0000 https://www.tungsten-network.com/compliance-overview/country-updates/country/%country%/mandatory-b2g-e-invoicing-planned/ Cyprus is looking to implement some changes around e-invoicing in the sphere of public procurement. The current framework is covered by the scope of Public Procurement Law (89(I)/2019).   There are some proposals under review from the Cypriot Ministry of Finance, including making e-invoicing mandatory for transactions in the public sector. These proposals have been published for public consultation.   It is […]

The post Mandatory B2G e-invoicing planned first appeared on Tungsten Network.]]> Cyprus is looking to implement some changes around e-invoicing in the sphere of public procurement. The current framework is covered by the scope of Public Procurement Law (89(I)/2019).  

There are some proposals under review from the Cypriot Ministry of Finance, including making e-invoicing mandatory for transactions in the public sector. These proposals have been published for public consultation.  

It is intended that the proposed amendments to the law will come into force from 1 January 2022, although it is slightly uncertain at the moment whether this will go ahead, due to the legal and administrative procedures which need to be followed. 

The relevant provisions of the law cover central governmental entities and the remaining public agencies as defined in the legislation. Certain sectors will be exempt from the obligation to use e-invoicing.

The post Mandatory B2G e-invoicing planned first appeared on Tungsten Network.]]> https://www.tungsten-network.com/compliance-overview/country-updates/country/cyprus/mandatory-b2g-e-invoicing-planned/feed/ 0