Cyprus: Installment payments of VAT available for period ending 31 December 2021

Taxable persons may remit payments of VAT in three installments of equal payments

Taxable persons may remit payments of VAT in three installments of equal payments

The Ministry of Finance on 9 February 2022 announced taxable persons may remit payments of value added tax (VAT) for the tax period ending 31 December 2021 in three equal installments due on 10 February, 10 March, and 10 April 2022.

Those remitting VAT in installments will not be subject to the imposition of additional tax and penalties.

The installment payment option is available only if the VAT return is timely filed and discloses the total amount of VAT payable.

Read a February 2022 report prepared by the KPMG member firm in Cyprus

 

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