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With an announcement from the Tax Department, the zero rate for products and services related to the COVID-19, ceases to apply. Starting from 01/01/2023 the below VAT rates will enter into force:

  • 5% VAT for vaccine deliveries related to the disease;
  • 19% VAT for:
  1. Deliveries of in vitro diagnostic medical technology products
  2. Services related to these products, unless they fall under the excluded transactions (based on the Seventh Appendix of the VAT Legislation)

However, the Tax Department announced a few days later that for the period 13/01/2023 – 31/03/2023 the vaccine deliveries and the deliveries of in vitro diagnostic medical technology products will eventually fall under the zero VAT rate (0%). For additional information or assistance by our local advisors please contact Mr. Nikolaos Lioufis, Invoicing & Collection Manager, at our Eurofast office in Cyprus at nicosia@eurofast.eu


Eurofast is a regional business advisory organization employing local advisors in over 21 cities in South East Europe & the Middle East (SEEME). The Organization is uniquely positioned as a one-stop-shop for investors and companies looking for professional services in  Tax & Transfer Pricing – Payroll & Employment – Accounting & Compliance –Advisory & Corporate. 
Nikolaos Lioufis Eurofast

Nikolaos Lioufis
Invoicing & Collection Manager
Eurofast Nicosia
nicosia@eurofast.eu

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