The Cyprus Tax Department recently issued two notices regarding the VAT rate for products and services related to COVID-19. The first notice provides that with effect from 1 January 2023, supplies of COVID-19 in-vitro diagnostic tests and COVID-19 vaccines and related services are no longer eligible for the zero VAT rate that applied until 31 December 2022. As such, the applicable VAT rates are:
- 19% for COVID-19 in-vitro diagnostic tests and related services; and
- 5% for COVID-19 vaccines
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