Cyprus Property Forum for Buyers, Sellers & Investors

Hi, according to the law, VAT is 5% for the first 200 sq.m. of a house and 19% for every additional sq.m. beyond that. For houses larger than 200 sq.m., they estimate the VAT rate using a formula. The online formula found is (200/(house_size5%) + (house_size-200/house_size19%). For a 210 sq.m. house, it would be (200/2105%) + (10/21019%) = 5.66%. Is this calculation accurate? Thanks!

Let's say the house is 250 sqm and it's priced at €300,000.

On the first 200sqm (which is 80% of the house) you pay 5% on 80% of the €300,000

On the remaining 50sqm. (which is 20% of the house) you pay 19% on 20% of the €300,000.

Regards,