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Obligation for electronic submission of the VAT returns from May 2, 2017
Dear Clients,
The Council of Ministers issued regulation ΚΔΠ.367/2016, as published in the Cyprus Gazette on 16/12/2016, amending the main regulations to the Cyprus Value Added Tax (VAT) Laws.
The amendment adds paragraph 6A to regulation 17 of ΚΔΠ.314/2001 which indicates that all taxable persons, as per the provisions of the Cyprus VAT Laws, are obliged to submit their VAT returns electronically. Returns should be submitted via the on-line TaxisNet portal.
The above regulation is put into effect on May 02, 2017 which means that electronic submission of VAT returns will be obligatory for all taxable persons*.
*According to article 6(1) of the VAT Act, a taxable person is every person who is registered or is liable to register under the VAT Act.