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Cyprus Applies Reduced VAT Rate to Construction and Renovation Work for Educational Purposes, Extends Zero Rate for Basic Goods

|Approved Changes|Cyprus
Cyprus

Cyprus has introduced a reduced VAT rate of 5% for construction and renovation work carried out on buildings that are used for VAT-exempt educational purposes. The reduced rate covers both the construction of new buildings and the renovation/repair of existing ones, including both labor and materials. The reduced rate applies in relation to buildings used for VAT-exempt educational services by:

  • Public educational institutions (all levels);
  • Private schools registered under the Private Schools…

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