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A temporary measure to impose a zero VAT rate on supplies of several basic items will be in effect from 5th of May 2023 to 31st October 2023. The zero VAT rate will apply to the following items: Bread: all types of fresh or frozen bread, with or without sourdough (e.g., white, black, whole grain, multigrain, rustic, rye, corn cut, baguette, ciabatta, sliced bread, loaves, pies). Pastries, rusks and any bread with added ingredients such…

The Transfer Pricing (TP) law and regulations were voted into Law on 30 June 2022 and are effective as from 1 January 2022 (ie tax year 2022). The law and regulations are in line with OECD TP Guidelines. Types of Transactions All types of transactions between related parties in excess of €750.000 per category of transactions, such as Services Financing Intangible assets Goods Who must prepare TP documentation Cyprus resident companies and foreign entities operating…