VAT rates for services and products related to the COVID-19 disease

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

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