Cyprus operates special schemes for retail traders which provide simplified methods for working out how much VAT the retail traders owe. The schemes recognise the fact that a retailer may find it difficult to determine the VAT due on a transaction-by-transaction basis.
These special schemes, known as retail schemes, can only be used for retail sales, so a business that has both retail and non-retail transactions will only be able to use the special scheme for the retail transactions.
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Web page updated on 17 Mar 2025 16:28