March 19, 2020
A & C CHRISTOFI LTD
The Council of Ministers has decided on the 18th March 2020 the following regarding the coronavirus:
- The VAT due submission date which was supposed to be submitted on the 10th of April is extended until 30 April 2020 assuming the businesses’ turnover over the last 12 months was less than €1 million. Saying that, the VAT payment for the relevant period ends 10th of November 2020.
- The normal VAT rate of 19% is reduced to 17% for a period of two months, i.e. from 01 April 2020 until 31 May 2020. Also, the reduced rate of 9% is reduced to 7% for a period of 3,5 months, i.e. from 01 April 2020 until 15 July 2020.
- Regarding the General Health System (GESY), for March 2020 the new increased rates apply, whereas for April and May 2020, the already rates will be in effect.
- The electricity bills will be reduced by 10% for 3 months.
- Temporary suspension for dispossession for 3 months.
- Extension for 3 months for the applicants of the ESTIA Scheme.
We always remain available to our clients and we are doing our best to ensure the best quality of our services.
Author: A & C CHRISTOFI LTD