A business is obliged to register to the Cyprus VAT authorities when its business taxable income exceeds or is expected to exceed the amount of €15,600 within a 12-month period. Once the threshold is reached, a business is obliged to register to VAT within 30 days.
The registration to the VAT authorities could be voluntarily, even if the aforementioned criteria are not met. This can benefit the businesses to reclaim VAT on their expenses incurred as well as operate in a more professional manner.
ACLA AUDITORS can assist you providing further information, as well as registering your business to the VAT authorities and handle the preparation and submission of the VAT returns.