Accounting & Tax Blog

5% VAT Reduced Rate Cyprus Property 2026: Which Regime Applies to You? If you are buying or building your primary residence in Cyprus, the 5% VAT reduced rate Cyprus property 2026 is still available but the rules depend entirely on when your applied for a planning permit or when it was obtained. The Cyprus Tax Department clarified on 4 May 2026 that there are now two distinct regimes, each with different coverage limits and deadlines. Regime 1 - Previous Rules: 5% on First 20

Cyprus VAT Deadline Extension May 2026: You Now Have Until 20 May If you are filing your Cyprus VAT return for Q1 2026, the Cyprus VAT deadline extension May 2026 gives you until 20 May 2026. The same applies to your VIES statement for April 2026. This extension was granted by the Tax Commissioner due to the scheduled TFA system maintenance taking the platform offline from 7–12 May. What’s covered by the extension: • VAT Return + payment for the period ending 31 March 2026 →