Following the health crisis (covid-19), the Cypriot authorities have announced a plan to postpone the VAT payment deadline for the periods ending February 29th, March 31st and April 30th 2020 to 10th November 2020, subject to meeting certain conditions set out below:
- the taxable person must submit the return within the legal deadline,
- the amount for the above periods must be paid no later than November 10th 2020,
- the taxable person’s economic activity as shown on the registration certificate must not be expressly excluded from the profits for this scheme.
No additional tax will be applied on the VAT to be paid, interest on late payment will not be applied and no penal sanctions for non-payment of VAT and non-submission of tax returns will be applied for the above-mentioned periods. These measures also apply to non-residents.