As previously proposed, the Cypriot VAT rate has been increased. As part of Cyprus’ financial bail-out the standard rate of VAT will increase by 1% to 18% from 1 January 2013. A further 1% increase is proposed from 1 January 2014, bringing the rate of VAT to 19%, and in line with mainland Europe. The increase due in 2014 will also be complimented by a similar increase to the reduced rate of VAT, a 1% increase to 9%.

Our aim is to maximise your international or EU VAT refund while minimising the burden on you.

Before we start

You will be provided with a free, frank assessment of your businesses’ foreign VAT recovery potential.

We will then quote you a fee depending on the number of invoices, the tax jurisdictions and the overall volume of the reclaim. All our fees are a % of the successful recovery, payable only once you have been reimbursed by the relevant tax authority.

The application process

  • JT Accountants work with companies big and small to obtain EU VAT refunds from Cyprus and many, there is no risk involved.
  • We will only be remunerated with fees once recovery has been achieved – so there are no costs without any recovery.

This vat refund service is only appplicable to businesses only. We cannot assist with the recovery of tourist vat.

Once you decide to commit to our refund service, we can begin preparing your claim. We will need some details from you regarding your previous UK VAT returns and copies or scans of the invoices you submit.

The services we perform are:

  • Assess each invoice for VAT compliance in the relevant Cyprus;
  • Negotiate the reissuing of invoices with suppliers where significant, non-compliant invoices are identified;
  • Prepare and submit the claim.