Paphos People

The Paphos and District Information Site

It is currently Thu Mar 28, 2024 11:56 am


Mr-Woo Chinese and Thai Restaurant

The Haris Bar Restaurant

Buy Home in Cyprus banner

Simon the FLYman banner

Paphos Will Writers



All times are UTC + 2 hours [ DST ]


 



Post new topic Reply to topic  [ 10 posts ] 
Author Message
PostPosted: Tue Jan 05, 2016 9:44 am 
Offline
Rock Star
User avatar

Joined: Fri Feb 08, 2013 9:40 am
Posts: 1242
Location: Tala
I am curious and hoping someone will provide clarification as to the level of V.A.T. applicable for company services provided in Cyprus.

At first glance at the following information it would seem that the 'standard 19%' we the consumers are generally charged, may or may not be the required tax paid by the company;

Quote:
Cyprus VAT rates

Whilst Cyprus follows the EU rules on VAT compliance, it is still free to set its own standard (upper) VAT rate. The only proviso is that it is above 15%. Suppliers of goods or services VAT registered in Cyprus must charge the appropriate VAT rate, and collect the tax for onward payment to the Cyprus tax authorities through a VAT filling see Cyprus VAT returns briefing.

The current rates are:
EU country Cyprus Country code CY
Standard rate Reduced rates Which goods or services?


19% All other taxable goods and services.

5% Basic foodstuffs; water supplies; pharmaceutical products; medical equipment for disabled persons; childrens car seats; some public transport; books; newspapers and periodicals; admission to cultural events and amusement parks; writers and composers; renovation and repair of private dwellings; some agricultural supplies; admission to sports events; domestic waste collection; hairdressing.

9% Some passenger transport; hotel accomodation, restaurants.


My guess is we, the consumers, are being ripped-off!

_________________
I'll be back!


Top
 Profile  
 
PostPosted: Tue Jan 05, 2016 9:52 am 
Offline
Top of the pops
User avatar

Joined: Wed May 22, 2013 3:27 am
Posts: 2245
Location: Kamares Village
think of the money as payroll for govt jobs, parliament, military, etc - they will not survive if it's not the VAT paid by us


Top
 Profile  
 
PostPosted: Tue Jan 05, 2016 12:59 pm 
Offline
Top of the pops
User avatar

Joined: Sun Jan 25, 2015 6:19 pm
Posts: 2540
Location: Vrysoulles & Famagusta City, since 2003
Sergio wrote:
think of the money as payroll for govt jobs, parliament, military, etc - they will not survive if it's not the VAT paid by us


Phew! that's OK then.
Geoff.


Top
 Profile  
 
PostPosted: Tue Jan 05, 2016 4:25 pm 
Offline
Top of the pops
User avatar

Joined: Mon Dec 24, 2007 12:24 am
Posts: 2974
Location: Ha Potami, Kouklia
Most VAT-registered companies in Cyprus charge their customers 19% VAT and that is what they are obliged to pay the government on a quarterly basis. No ifs or buts, it's 19%.

The exemptions are as shown in your post. Those exempted companies account to the government for the lower rates shown - not 19%. So if you pay €10 for a haircut the hardrdresser gets to keep €9.52 for himself and he pays 48c VAT (5% of €9.52) to the government.

At 19% Standard rate we actually get off quite lightly. Most European states pay more than we do, in some cases quite a bit more:

Image


Last edited by Yakflyer on Tue Jan 05, 2016 4:33 pm, edited 1 time in total.

Top
 Profile  
 
PostPosted: Tue Jan 05, 2016 4:33 pm 
Offline
Top of the pops
User avatar

Joined: Wed May 22, 2013 3:27 am
Posts: 2245
Location: Kamares Village
geoffreys wrote:
Sergio wrote:
think of the money as payroll for govt jobs, parliament, military, etc - they will not survive if it's not the VAT paid by us


Phew! that's OK then.
Geoff.

:D


Top
 Profile  
 
PostPosted: Thu Jan 07, 2016 10:48 am 
Offline
Rock Star
User avatar

Joined: Fri Feb 08, 2013 9:40 am
Posts: 1242
Location: Tala
Being of a cynical nature, I was wondering if some businesses for example, some restaurants were charging 19% & then only paying 9%, thereby further enhancing the profit they make?

_________________
I'll be back!


Top
 Profile  
 
PostPosted: Thu Jan 07, 2016 4:32 pm 
Offline
Top of the pops
User avatar

Joined: Mon Dec 24, 2007 12:24 am
Posts: 2974
Location: Ha Potami, Kouklia
If they were to charge 19% VAT their end price to the customer would simply be that much higher than competitors. A wholly pointless exercise if they were to lose out. Of course restaurants work on different margins and that's not to say that one restuaranteur may not look for a bigger margin to cover a higher cost base, or excellence of food or service. VAT wouldn't need to come into it, the restauranteur could simply just charge more. However, I suspect that in these difficult times, restaurant menus are very price-sensitive and few would dare to step out of line too far.


Top
 Profile  
 
PostPosted: Thu Jan 07, 2016 10:32 pm 
Offline
Forum Admin
User avatar

Joined: Mon Dec 11, 2006 11:53 pm
Posts: 17223
Location: Pano Paphos
Topgun wrote:
Being of a cynical nature, I was wondering if some businesses for example, some restaurants were charging 19% & then only paying 9%, thereby further enhancing the profit they make?


Everyone should have a pre-programed till , it is the law ,
plus they must have the menu displayed outside stating the cost includes VAT ..

_________________
REACH 1000`s of PAPHOS CUSTOMERS EVERY DAY FOR A FRACTION OF WHAT THE OTHERS CHARGE
----------------------------------------------------------------
Whilst the optimist and the pessimist argued that the whisky glass was either half full
or half empty ? .
I drank it .....
The opportunist..


Top
 Profile  
 
PostPosted: Fri Jan 08, 2016 10:24 am 
Offline
Rock Star
User avatar

Joined: Fri Feb 08, 2013 9:40 am
Posts: 1242
Location: Tala
Quote:
Everyone should have a pre-programed till , it is the law ,
plus they must have the menu displayed outside stating the cost includes VAT ..


Thanks for enlightening us Neil.

I think the two key words in your statement Neil are 'should' & 'must', this is Cyprus after all! ;)

I could name a particular restaurant that does not display drinks prices inside, outside, or on the menu - so how can this be legal?

_________________
I'll be back!


Top
 Profile  
 
PostPosted: Fri Jan 08, 2016 11:52 am 
Offline
Forum Admin
User avatar

Joined: Mon Dec 11, 2006 11:53 pm
Posts: 17223
Location: Pano Paphos
Topgun wrote:
Quote:
Everyone should have a pre-programed till , it is the law ,
plus they must have the menu displayed outside stating the cost includes VAT ..


Thanks for enlightening us Neil.

I think the two key words in your statement Neil are 'should' & 'must', this is Cyprus after all! ;)

I could name a particular restaurant that does not display drinks prices inside, outside, or on the menu - so how can this be legal?

its not ...
also every year , we must submit our menu, in english and in greek to the CTO for approval ,,

and who is to say that they are ringing everything through the till ?? ..

the VAT people have been known to attend bars/ restaurants , order a drink , then when you dont give them a receipt
with there change , they identify themselves and go through everything (which they can)
they can Z your till anytime they like ..

_________________
REACH 1000`s of PAPHOS CUSTOMERS EVERY DAY FOR A FRACTION OF WHAT THE OTHERS CHARGE
----------------------------------------------------------------
Whilst the optimist and the pessimist argued that the whisky glass was either half full
or half empty ? .
I drank it .....
The opportunist..


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 10 posts ] 
Paphos people botton - viewtopic_body


All times are UTC + 2 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 15 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron

Kapnos Airport Shuttle



Powered by phpBB® Forum Software © phpBB Group