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VAT (Value Added Tax) on Land from the 2nd of January 2018

The Cyprus House of Parliament voted on the 3rd of November 2017 an amendment to VAT legislation.

The vote is a result of a European Union Directive.

The parliament decision stipulates a VAT of 19% on Building Land.

The VAT decision will be implemented from the 2nd of January 2018.

Until now there was no VAT tax on the sale of any land.

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