The objective of the amended legislation which was passed by the House of Representatives and published in the Government Gazette today (16/12/2016) is the addition of paragraph 6A to regulation 17 of general regulations (314/2001) providing for the compulsory submission of VAT returns by electronic means with effective date on 2nd May 2017.
“All taxable persons, based on the provisions of the Law, are obligated to submit their VAT return electronically as provided for in regulation 17”.
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.
Consequently, all persons registered or liable to be registered in the VAT Registrar, are liable to submit their VAT returns electronically. Practically this means that both physical and legal persons as well as partnerships, joint ventures or any other form or organization fall within the definition of taxable person.
1. Access the Taxisnet for VAT platform to apply for registration https://taxisnetreg.mof.gov.cy/
2. Click on the blue button under the title “Register for Taxisnet”
3. Fill in the necessary data as requested by the platform
4. Submit the application form electronically
5. Receive an email on the specified email address requesting confirmation of the data having been filled in
6. Return to home page so as to continue completing the application
7. Submit the application electronically
8. Issue and dispatch of the password to the applicant for new users or add the taxpayer under the representative designated or adding a service
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