10 Feb Changes to VAT Deadlines For The Periods Ending At 31/12/2020 and 31/01/2021
On 9 February 2021, an amendment to the VAT Law was published in the Official Gazette allowing for the VAT that is due for the VAT returns ending 31/12/2020 and 31/1/2021 to be settled in three (3) equal monthly instalments without the imposition of additional tax and interest.
The instalment option is available provided the taxpayers submit their VAT returns on time.
The VAT liability on these returns may be settled in three equal monthly instalments payable by 10th of April, 10th of May or 10th of June 2021.
The instalment option is available to all taxpayers whose economic activity
is not listed here below:
| Description of economic activities | Code of economic activities |
| Supermarkets and grocery stores with the exception of Famagusta and Paphos provinces | 47.11.1 |
| Mines and quarries | 05. until 09. |
| Forestry and logging | 02. |
| Satellite and other telecommunications services | 61. |
| Electricity generation | 35 |
| Production of chemicals, products, metals, as well as other non-metallic products | 20.
23. 25. |
| Production of pharmaceutical products and pharmaceutical preparations | 21. |
| Manufacture of electrical equipment, machinery, as well as electronic medical and therapeutic machinery | 27.
28. 26.6 |
| Repair and installation of machinery and equipment | 33.
|
| Supply of water, Waste water treatment, waste management and related activities | 36.
37. 38. 39. |
| Financial services and insurance activities, including Licensed Credit Institutions and related activities | 64.
65. 66. |
| Doctors | 86. |
| Construction sector and related enterprises in the construction sector | 41.
42. 43. |
| Wholesale trade related to the construction sector | 46.63
46.73 46.74 |
| Wholesale trade in motor vehicles and motorcycles, as well as maintenance, manufacture and repair of motor vehicles and similar activities and related undertakings | 45. |
| Trade representatives | 46.11 until 46.19 |
| Wholesale trade in tobacco, perfumes and cosmetics, furniture, carpets, electronic and telecommunication equipment and accessories, electrical household appliances, radios and televisions, computers, peripheral computer equipment and software, porcelain articles, glassware and cleaning materials and related activities | 46.21
46.35 46.43 46.44 46.45 46.47 46.51 46.52 |
| Non-specialized wholesale trade in food, beverages and
tobacco |
46.39 |
| Computer programming and related activities | 62. |
| Hospital activities | 86.1 |
| Nursing homes | 87.30.1 |
| Pharmacies | 47.73.1 |
| Trade in medical, orthopaedic and pharmaceutical products | 47.74 |
| Retailers of lottery tickets and newspapers | 47.99.5
47.99.6 |
| Land and water transport services, storage services, postal services | 49.
50. 52. 53. |
| Private healthcare companies and clinical laboratories
|
86.10.2
86.21.2 86.22.1 86.22.2 86.23.2 86.90.1 |
| Household assistance activities and household activities as employers of domestic staff. | 87.
97. |
| Film production and related activities | 59. |
| Funeral home and related activities | 96.03 |
| Veterinary activities | 75. |
| Head office activities, management advice and related activities | 70. |
| Legal accounting and architectural activities | 69.
71. |
| Dry cleaners with the exception of Famagusta and Paphos provinces | 96.01 |
| Petrol stations | 47.3 |
| Services in relation to immovable property | 68. |
|
Security and research activities, as well as internal and external buildings services with the exception of Famagusta and Paphos provinces
|
80.
81. |
| Rental and lease of personal or household items, machinery and equipment | 77. |
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