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ARTICLE · 01 NOVEMBER 2013

Indirect Taxes In Cyprus

Elias Neocleous & Co LLC
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The importance of indirect taxes in the Cyprus economy is made clear in the 2013 edition of Taxation trends in the European Union issued by Eurostat, the EU’s statistical office, and the Commission’s Directorate-General for Taxation and Customs Union.

CyprusTax
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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This article looks at the range of indirect taxes in Cyprus.

The importance of indirect taxes in the Cyprus economy is made clear in the 2013 edition of Taxation trends in the European Union issued by Eurostat, the EU's statistical office, and the Commission's Directorate-General for Taxation and Customs Union. This annual publication compiles tax indicators in a harmonised framework based on the European System of Accounts, allowing accurate comparison of tax systems and tax policies between EU Member States. According to the latest edition, in 2011 Cyprus had the sixth highest share of indirect taxes in the EU-27, deriving 41.9 percent of its tax revenues from indirect taxes, compared with an EU average of 34.5 percent.

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