5 C
Nicosia
Friday, March 1, 2024

The zero VAT rate for products and services related to covid is abolished

Must read

ΑΙρεται ο μηδ&epsilon ;νικoς συντελεστorς ΦΠΑ για προioν&tau ;α και υπηρεσΙες που σχετΙζοντα&iota ; με covid

From January 1, 2023, the zero VAT rate  for products and services related to the Covid-19 disease will be abolished, according to an announcement by the Department of Taxation.   

As stated in the announcement, deliveries of in vitro diagnostic medical products, vaccines for the covid-19 disease and  provision of services that are closely related to the above products, do not fall under the zero VAT rate, as was valid until December 31, 2022.

It is noted that VAT. 19% now applies to deliveries of in vitro diagnostic medical technology products and services related to these products, unless they concern exempt transactions based on the Seventh Appendix of VAT. Legislation. Also, VAT 5% is applied for deliveries of vaccines related to the covid -19 disease.

Source: www.reporter.com.cy

- Advertisement -AliExpress WW

More articles

- Advertisement -AliExpress WW

Latest article