Facilitation of payments to those who “benefited” from the 5% VAT for housing

Up to 12 installments available

Debt recovery claim is created for those non-beneficiaries who “benefited” from a reduced VAT rate of 5% for the purchase or construction of a residence for use as a principal and permanent place of residence in the Republic, the Taxation Department informs in its announcement.

In the announcement it is stated that in cases where financial difficulty is found for a one-time payment of the debt, the possibility of gradual payment is provided up to 12 installments and in in exceptional cases, the Tax Commissioner can approve a repayment plan of up to 24 installments.

To create a repayment schedule, a relevant request can be submitted to the local District Offices of the Tax Department.