€00.00
€00.00
€00.00
VAT Calculator Cyprus: Simple, Fast With High Accuracy
If you are a business operating in Cyprus and want to calculate VAT on your products and services, you are at the right spot. Welcome to our free and easy VAT Calculator Cyprus. It is a productive tool that will help you compute VAT with a single click. It is free, convenient, and accurate. Use it if you want error-free results while saving your precious time.
Our Cyprus VAT calculator quickly calculates your net amount, VAT payable, and gross amount. It is so straightforward; you only need to enter your net or gross amount, the result is calculated automatically.
Standard VAT Rate in Cyprus
The standard Cyprus VAT rate is 19%. It is one of the highest VAT rates in Europe. There is a reduced VAT rate of 9% and a super reduced VAT rate of 5% & 3% for specific goods and services. The VAT rate in Cyprus depends on the goods and services that are being purchased.
Cyprus VAT Rates
| Category | VAT Rate | Examples |
|---|---|---|
| Standard Rate | 19% | Most goods and services (electronics, clothing, professional services) |
| Reduced Rate (1) | 9% | Accommodation, restaurant services (excluding drinks), local passenger transport |
| Reduced Rate (2) | 5% | Foodstuffs (bread, milk, eggs), pharmaceutical products, books, magazines, newspapers (as of July 21, 2023) |
| Super-Reduced Rate | 3% | Specific goods (introduced July 2023, list subject to change) |
| Zero Rate | 0% | Subject to change, but may include basic goods (past examples: bread, milk, eggs), sea-going vessels, and aircraft supplies |
Also visit; German Vat Calculator
How to calculate vat in Cyprus?
Adding VAT in Cyprus
In Cyprus vat calculation can be done as follow:
Gross = Amount / 100 * (100 + VAT Rate)
Step 1:
Standard Vat rate of Cyprus is 19%.
Step 2:
Divide the Amount by 100 and then multiply by the (100 + VAT rate); the result will be the gross amount, including the German VAT.
Step 3:
Now, the total vat rate can be calculated from gross amount as follow
Total VAT = Gross - Price
Example of VAT Addition
Let suppose you buy a Toaster on €52,00 and the Cyprus standard vat rate is 19%, then the total cost including the vat would be:
Amount = €5200
VAT Rate = 19%
Gross Amount = Amount / 100 * (100 + VAT rate)
Gross Amount = 5200/100 * (100 + 19)
Gross Amount = €6188
Now,
Total VAT = Gross Amount - Amount
Total VAT = €6188 - €5200
Total VAT = €988
Therefore, the total price, including VAT (gross price) for Toaster is €6188.
Removing VAT in Cyprus
To find out the price without vat, use the following formula
Net = (Amount / (100 + VAT Rate)) * 100
Step 1:
Cyprus vat rate is 19%.
Step 2:
Divide the Amount by the (100 + VAT rate) and then multiply by 100; the result will give you a net amount that doesn’t include any VAT.
Step 3:
Calculate the total vat as is follow:
Total VAT = Amount - Net
Example of Vat Removal
Let's consider you sell a water filter for €650 and need to remove VAT from the selling price. Using Cyprus standard vat rate i.e. 19%, the selling price excluding VAT would be:
Amount = €650
VAT Rate = 19%
Net Amount = Amount/(100 + VAT Rate)* 100
Net Amount = 650/(100 + 19)* 100
Net Amount = €546.21
Now,
Total VAT = Amount - Net Amount
Total VAT = €650 - €546.21
Total VAT = €103.79
So, the selling price of water filter excluding VAT would be €546.21.
Also visit; Kenya Vat Calculator
Cyprus VAT Registration
To register, you apply online using the TaxisNet system. You'll fill out a form called VAT4 and give documents like your company papers and proof of who runs the show. And before you do that, ensure you have a Tax Identification Number (TIN), which you can get through the TFA Portal.
Cyprus VAT Registration for Non-EU Businesses
If you're a business from outside the EU selling products or services inside Cyprus, you must register for VAT no matter how much you made.
Moreover, if you're an EU company selling things online to people in Cyprus, you must register if your revenue is over €10,000 worth of stuff there in a year.
Cyprus VAT Threshold
In Cyprus, you must register for VAT if your business made more than €15,600 in the past year or expects to make that much in the next month. If you made less revenue, you can still voluntarily register for VAT, although it is not mandatory.
There used to be a €35,000 yearly threshold for online sales to Cyprus from EU companies, but now it's €10,000. If you go over that, you must register for VAT in Cyprus.
Cyprus VAT Number
A Cyprus VAT number sometimes called the VAT ID Cyprus, is like a special business ID. It looks like this:
CY + 9 numbers + 1 letter
Here's what each part means:
- CY: Stands for Cyprus, like a code for the country.
- 9 digits: These are unique numbers given by the Cyprus tax department.
- 1 letter: This letter checks if the number is correct.
Conclusion
Calculating VAT Cyprus is simplified for businesses with our VAT Calculator Cyprus. Our calculator ensures accurate computations with ease. Understanding Cyprus's VAT rates, registration thresholds, and getting Cyprus VAT numbers is essential for compliant operations.
FAQs
Since joining the EU, Cyprus has modified its VAT Law 95(I) of 2000 to better comply with EU requirements. This law governs the country's fundamental VAT laws.
The official VAT rate in Cyprus is 19%. There are also reduced rates of 9%, 5% and 3% for some products and services.