VAT REFUND IN CYPRUS:
ALL NON-RESIDENTS ARE ELIGIBLE FOR REFUND
a) Refundable expenses:
All expenses concerning the Company activity including Hotel accommodation and entertainment/hospitality provided only to the employees and directors/managers of the company.
b) Suitable documents:
Original INVOICES (NO RECEIPTS) showing the following details:
- PLACE, DATE OF ISSUE, INVOICE NUMBER
- NAME OF THE SUPPLIER, ADDRESS AND V.A.T. REGISTRATION NUMBER
- COMPLETE HEADING OF THE PURCHASER
- DESCRIPTION AND QUANTITY OF THE PURCHASED GOODS OR RENDERED SERVICES
- TYPE OF SUPPLY BY REFERENCE TO THE DIFFERENT CATEGORIES
- TAXABLE AMOUNT EXPRESSED IN CYP (CYPRUS POUNDS)
- VAT AMOUNT EXPRESSED IN CYP (CYPRUS POUNDS) AND, IN CASE, EXCHANGE IN €
- VAT RATES 15% - 8% - 5%
- TOTAL PAID AMOUNT EXPRESSED IN CYP (CYPRUS POUNDS).
INVOICES lower than CYP 50 (about € 30,00), VAT included, have to show only the following details:
- DATE OF THE SUPPLY
- NAME, ADDRESS AND V.A.T. REGISTRATION NUMBER OF THE SUPPLIER
- DESCRIPTION OF THE PURCHASED GOODS OR RENDERED SERVICES
- TOTAL AMOUNT PAYABLE INCLUDING VAT
- VAT RATES AND RELEVANT AMOUNT.
EACH INVOICE/RECEIPT ISSUED ONLY IN GREEK LANGUAGE MUST BE FOLLOWED BY A DESCRIPTION OF THE GOODS OR SERVICES IN ITALIAN OR ENGLISH LANGUAGE.
N.B.: INVOICES WITHOUT ABOVE-LISTED DETAILS WILL BE REJECTED BY CYPRIOT AUTHORITIES.
c) Registration for the electronic VAT refund system
d) Forwarding of the documents:
Quarterly/six-monthly or yearly as soon as You get Your purchase invoices . We advise You to send the invoices before 31st March of the following year to our office.
e) Minimim VAT amounts:
Yearly application: CYP. 145 (€ 250,00)