Amendments to the VAT Law

The VAT Law has been amended to explicitly bring the transfer of the effective right to dispose of immovable property within the scope of VAT. The Value Added Tax (Amending) Law of 2018 (Law 39(I) of 2018) amends the second and eighth schedules to the VAT law to effect the change, which will take effect from 1 September 2018.

For further information on this matter please contact Michalis Loizou or your usual contact at Elias Neocleous & Co LLC.