Orbitax subscribers can now easily follow the latest COVID-19-related tax measures being implemented worldwide. New to Orbitax? Create a free account to access your dashboard and latest tax news.
News Share

The Tax Hub

Daily Tax Newsletter


30 April 2020

Responsive image

Cyprus Changes VAT Period for Certain Taxpayers

Cyprus has introduced temporary changes in the VAT period and return and payment deadlines for certain taxpayers. The changes were first announced by the tax department on 16 April and clarified on 21 April, which include that a 27 April 2020 deadline applies for the quarterly period 1 January to 31 March 2020 and three monthly periods and deadlines are required as follows:

  • For the period 1 April to 30 April 2020, the deadline is 27 May 2020
  • For the period 1 May to 31 May 2020, the deadline is 27 June 2020; and
  • For the period 1 June to 30 June 2020, the deadline is 27 July 2020.

The requirement to follow the new periods and deadlines applies for the following taxpayers based on their economic activity code, which must pay the full amount of VAT due for each period:

  • 35111 (Production of electricity);
  • 36001 (Collection and distribution of water (for water supply);
  • 47111 (Groceries and supermarkets, mainly of food products);
  • 47112 (Kiosks and minimarkets);
  • 47211 (Retail sale of fruit and vegetables – fruit markets);
  • 47221 (Retail sale of meat and meat products, including poultry);
  • 47241 (Retail sale of bread and of other bakery products);
  • 47242 (Retail sale of confections);
  • 47301 (Retail sale of fuel);
  • 47411 (Retail sale of computers, peripheral equipment and software, including videogames);
  • 47621 (Retail sale of newspapers and stationery);
  • 47731 (Pharmacies);
  • 61101 (Cyprus Telecommunications Authority);
  • 61201 (Internet services);
  • 61301 (Satellite telecommunication services);
  • 61901 (other telecommunication services excluding CYTA).

The requirement to follow the new periods also applies for other taxpayers, but only 30% of the amount VAT due must be paid. This includes 30% of the amount due for the current period plus 30% of the balance due for the previous period(s). After the payment due on 27 July 2020, the balance of the remaining VAT due must be paid by 10 November 2020. Although not specified in the tax department announcement, the new period requirements for other taxpayers is reportedly being limited to large taxpayers.

Powerful Tax Tools


FX Rates

Global FX Rates including Tax Year Average FX Rates and Spot Rates for all Reporting Currencies.


Corporate Tax Rates

Corporate tax rates, surtaxes, and effective tax rates for the current year, as well as historical rates and approved future rates.


Country Analysis

Detailed tax guidance for companies doing business in over 100 countries, including summaries and snapshots of key tax facts and issues.


Cross Border Tax Calculator

Calculate total tax costs and benefits of a cross border transaction including withholding tax, participation exemption and foreign tax credit rules.


Cross Border Tax Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment streams.



Complete overview of the OECD BEPS Project, including daily BEPS news, country adoption of BEPS measures, and an overview of the 15 BEPS Actions.


Tax Calendar

Customizable calendar tool that tracks corporate income tax, value added tax and transfer pricing obligations by country or entity.


Tax Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.


Worldwide Tax Treaties

Repository including thousands of tax treaties (in English), OECD, UN and US Models, relevant EU Directives, Technical Explanations, and more.


Worldwide Tax Planner

Calculates the worldwide tax cost of what-if scenarios based on legal entity structure, taxable income, and cross border transactions.


Certified Rates Report

Customizable Certified Rates Report providing updated corporate and withholding tax rates at the end of each month for over 100 countries.


Withholding Tax Minimizer

Enables quick calculation of tax costs and benefits of cross border transactions considering all possible transaction combinations and optimal routes.


VAT Rates

Provides value added tax (VAT) rates, goods and services tax (GST) rates and other indirect tax rates for over 100 countries.


NOL Calculator

Country specific calculator to determine how net operating losses can be utilized in carryback and carryforward years.


Transfer Pricing Calculator

Calculates TP ratios under various TP methods and calculates the difference between target ratios and actual ratios.


Individual Income Tax Rates

Individual tax rates for over 100 countries.

Play of the Day

Translate Documents

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

We’re here to help

We’re here to answer any questions you have about the Orbitax products and services.

Send us a message

Who’s behind Orbitax?

We’re committed to providing high value, low cost tax research and management solutions.

Learn More