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