Customs Duties or Import dutyA tax charged on certain goods which are brought into a coun... and taxes will be pending and need to be cleared while importing goods into Cyprus whether by a private individual or a commercial entity.
The valuation method is CIF.
Below table provide the Duty and Sales taxKnown as VAT (Value Added Tax) in the UK. A tax based on the... for Cyprus:
|Duty Rates||Sales Tax(GST)||Threshold on goods|
|0% to 17% (Some electronic devices are duty free)||19% VAT=VAT%(CIF + import dutyA tax charged on certain goods which are brought into a coun...)||Duty and VAT are excluded, If FOB is less than 150 Euro and 17 Euro.|
Note: VAT Rates
VAT is imposed on the provision of goods and services in Cyprus as well as on the acquisition of goods from the European UnionEU. Previously called the European Community. An internation... and the importation of goods into Cyprus. Taxable persons charge VAT on their taxable supplies (output taxIn the UK, the amount of VAT (Value Added Tax) a company or ...) and are charged with VAT on goods or services that they received (input taxA fee imposed by a government on personal or corporate incom...).
The standard VAT rate in Cyprus is 19%. Two reduced VAT rates, a 9% rate and a 5% rate, apply in Cyprus..
- For imports on Tobacco and alcohol excise duty must be payable.