The Cyprus Tax Department has announced the issuance of Implementing Directive 01/2020 of 29 September 2020 for the new Article 11E of the VAT Law. Article 11E was introduced through amendments published 20 August 2020, and provides that where persons registered for VAT acquire the following types of high-value goods for business purposes, they must apply the reverse charge:
- Mobile phones;
- Integrated circuit mechanisms, such as microprocessors, and central processing units; and
- Game console…