VAT OF 19% WILL BE IMPOSED ON LAND SALES IN CYPRUS

A VAT charge of 19% will be imposed on all commercial land sales in Cyprus from the 1st January 2018.

According to the circular issued by the Cyprus Tax Department it is confirmed that no VAT will be imposed on the purchase or sale of land located in livestock zones and in non-development areas, zones/areas of environmental protection, archaeological, rural, etc.