Cyprus VAT returns

Any company registered with the Cyprus tax authorities (see our Cyprus VAT registration briefing) as a non-resident VAT trader must report taxable transactions through periodic filings, known as returns. Note, the VAT return form VAT4 is only available in the Greek language.

How often are Cyprus VAT returns required?

Like all EU member states, the Cyprus VAT reporting calendar is on an annual basis.  Quarterly VAT returns are usually required.

The VAT period may depend on the type of business carried out and will be communicated to the taxable person at the time of registration.

What Cyprus VAT can be deducted?

In addition to declaring sales or output VAT in the Cyprus return, companies can offset this by the corresponding input or purchase VAT. There are some exceptions, including:

  • accommodation expenses for business associates
  • entertainment expenses for business associates
  • gifts and fringe benefits for employees
  • corporate gifts with a value exceeding EUR17

What are the deadlines for filing Cyprus VAT returns

Any Cyprus VAT must be reported and paid within the forty days following the end of the reporting period.

Type of return FrequencyFiling deadlineDocumentFormat
VAT return QuarterlyBy 10th day of the second month following the end of the quarterVAT DeclarationPDF
EC listing MonthlyBy 15th of the month following the end of the tax periodVIES 1PDF
EC listing (correction) No standard frequencyCorrection table must be submitted by the end of the month following the month in which the summary table contains incorrect dataVIES 3PDF
Intrastat MonthlyBy 10th day following the end of the month to which the Intrastat statement relatesArrivals-Intrastat 1.1
Dispatches- Intrastat 1.2


Cyprus VAT penalties

If there are misdeclarations or late fillings of Cyprus VAT returns, foreign companies may be subject to penalties. Late filings are subject to a charge of EUR51 per return. There is also a charge of EUR85 per month for not registering with the VAT authorities. If the payment is delayed, there is a further charge of 10% on the VAT due, with additional interest on the unpaid amount which is currently set at 4.5%p.a. If VAT is reported incorrectly a penalty of an additional 10% on the output VAT due is imposed as well as annual interest on the output VAT and the 10% penalty charge. Penalties of up to 300% of the value of the output VAT will be charged for tax evasion.

There is a six year statute of limitations for Cyprus VAT, except for fraud, in which case it is extended to twelve years.

How are Cyprus VAT credits recovered?

If there is a surplus of VAT inputs over outputs (more VAT incurred than charged), then a Cyprus VAT credit arises. In theory, this is due back to the VAT registered business.

In Cyprus form VAT 4B must be submitted in order to obtain a refund. There is no time limit after which a person can no longer claim a refund.

Need help with your Cypriot VAT compliance?

Researching Cypriot VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade. 

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