Seeing that the Republic and the World in general is going through unprecedented events that affect not only health but also livelihood and business operations, the Government has proposed to adopt certain relief measures to alleviate the impact of the pandemic. towards this direction, as of last Friday the 27th, the Parliament has passed the law amending the VAT law.
Temporary VAT payment deferral to 10 November 2020 and suspension of 10% tax penalty, interest and criminal sanctions
The deferral applies:
Excluded sectors include unaffected retailers, pharmacies, supermarkets, EAC and CYTA.
The economic activity codes of the excluded sectors are: 35111, 36001, 47111, 47112, 47191, 47211, 47221, 47221, 47231, 47241, 47242, 47301, 47411, 47611, 47621, 47651, 47731, 61101, 61301, 61901
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