The zero VAT rate on basic goods, meat and vegetables will apply until September 30, 2024. Prior to this, the rate was extended until June 30, 2024.
The zero rate applies to essential goods from 5 May 2023, with the exception of coffee and sugar, which are zero rated from 1 November 2023.
The Cypriot government was in thought for a long time, conducting internal assessments.
Adopting different VAT rates often places a large burden on businesses and tax authorities. And sometimes it even expands the possibilities for abuse on both sides.