On 27 March 2020, the Cyprus parliament proceeded with the voting of the relevant tax and VAT laws in response to the coronavirus. The law includes the deferral of VAT payment until 10 November 2020 without invoking penalties or interest.
The final VAT measures are reflected in the amending VAT law, which provides for the deferral of the VAT payable amounts for the periods ending 29 February 2020, 31 March 2020 and 30 April 2020 provided that the relevant VAT returns are timely submitted (on 10 April, 10 May, and 10 June, respectively) and that the taxable persons do not fall under certain exclusions.
