V.a.t on new property

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Ofer
Posts: 6
Joined: 04 Mar 2017 06:13

V.a.t on new property

Post by Ofer » 29 Oct 2019 22:41

Hello.
We are going to buy a new property from a developer. We were explained that we are entitled to pay a reduced 5 precents v.a.t instead of 19precents.
How do we pay the 5 precents vat? Directly to the developer or to the V.a.t tax office?
Should we pay the 19 precents in full and than get a refund of 14 precents?
What are the opetions?
Thank you in advance
Ofer



Nigel Howarth
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Re: V.a.t on new property

Post by Nigel Howarth » 29 Oct 2019 23:34

Hello ofer

You can find the rules, etc. for buying property at the reduced rate of 5% at Application of the reduced VAT rate (5%) on the Purchase/Construction of a New Dwelling in the Republic.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news


Nigel Howarth
Site Admin
Posts: 2458
Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
Contact:

Re: V.a.t on new property

Post by Nigel Howarth » 31 Oct 2019 17:27

You're welcome ofer - I hope it answers your questions.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news

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