VAT REDUCTION on certain basic items
02-05-2023 18:13
Announcement of the Ministry of Finance on the implementation of a zero VAT rate on basic items
The Council of Ministers in its session today has approved a decree to amend the VAT legislation, so that a zero rate of VAT is imposed on deliveries of bread, milk, eggs, baby food and nappies, as well as on products for feminine hygiene protection and adult nappies .
These measures are of a temporary nature, and will be valid from the date of publication of the decree until October 31, 2023.
The purpose of the measures is to relieve households in dealing with the increased prices of basic products due to external factors due to the increases that have occurred internationally and the continuous crises that plague economies and negatively affect supply chains.
The fiscal cost for the implementation of the measures in question is expected to amount to approximately €11 million.
https://www.pio.gov.cy/αν&alph … raS_s#flat — with Anne Marie Herbert.
