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Acquisition of residential dwellings at a reduced VAT rate

Residential dwellings at a reduced VAT rate

Clarifications regarding the acquisition of residential dwellings at a reduced VAT rate of 5% .

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Board Member, Indirect Tax Services

KPMG in Cyprus

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indirect-tax-update

Following indirect tax update 120 released by KPMG on 18 November 2016 under the subject modification of Table C of the Fifth Schedule, the present supplementary circular clarifies the following:

  1.  Buildable coefficient
  2. Acquisition of another residence before the expiry of ten  (10) year period
  3. Transfer of a dwelling before the expiry of ten (10) year period
  4. Applications before and after the application of the law (November 17, 2016)

For further information please read the present supplementary circular (PDF 142 KB).

© 2017 KPMG Limited, a Cyprus limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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