As of the 2nd November 2020, the pertinent Cyprus VAT Law has
been amended to provide for an allowance the VAT- Registered
persons to settle the VAT that is due on 10th November 2020 in six
(6) equal monthly instalments, without the imposition of additional
tax, penalties and interest.
The option to pay by installments is available only for the VAT
liability of the quarterly or monthly VAT return periods ending on
29 February 2020, 31 March 2020, 30 April 2020, 31 May 2020 and 30
June 2020, where an initial payment extension was granted until 10
November 2020.
In addition, the non-imposition of additional tax and interest
will apply only if the total VAT liability for the above-mentioned
VAT periods is settled to the Cyprus Tax Authorities in six (6)
equal instalments that are paid by the 10th day of each month.
