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VAT of certain basic goods is amended to 0% until 31/10/2023
Today (05/05/2023), a Decree amending the VAT Law in order to impose a zero VAT rate on supplies of certain basic items was published in the Official Gazette. This temporary measure against price increases will remain in force until 31 October 2023.
The zero VAT rate will apply to:
- Bread
- Milk
- Eggs
- Baby food
- Baby diapers
- Adult diapers
- Feminine hygiene products
It is noted that according to the VAT Law, affected businesses are required to perform a stock count when the above provisions become effective.
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Stelios Ioannou
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Managing Director