Cyprus – Intrastat / EC Sales list
In case the value of their intra-Community supplies or acquisitions of goods exceeds the following exemption thresholds, then all taxable persons making intra-Community supplies or acquisitions of goods may also be required to complete an Intrastat Supplementary Declaration providing statistical information about their dispatches to or from the other EU Member States.
Learn more about Intrastat and ESL in Cyprus in our comprehensive guide below.
Intrastat in Cyprus
Suppose the value of their intra-Community supplies or acquisitions of goods exceeds the following exemption thresholds. In that case, taxable persons making intra-Community supplies or acquisitions of goods may also be required to complete an Intrastat Supplementary Declaration providing statistical information about their dispatches to or from the other EU Member States:
- For the purchase of goods from other EU Member States, there is an annual threshold of 320,000 EUR, along with a simplification threshold of EUR 2,700,000.
- For goods that are sent to other EU member countries, the annual threshold is 75,000 EUR, along with a simplification threshold of EUR 5,800,000.
The declarations must be electronically submitted via TAXISnet.
Selling in Cyprus?
EC Sales List in Cyprus
People who are liable to pay taxes and involved in trading within the European Union are required to file monthly returns through the VAT Information Exchange System (VIES). These returns are also known as EC Sales Lists or “recapitulative statements” in some other countries. The purpose of these returns is to report transactions related to the supply of services and goods within the European Union.
Starting from January 1, 2020, VIES return reporting obligations now extend to call-off stock arrangements. As per the EU’s “Quick Fixes” regulations, VIES returns must include details about the recipients of goods involved in call-off stock arrangements.
Starting from a certain date, EU VAT Directive’s Article 138 mandates that taxpayers need to fulfill VIES return reporting requirements in order to qualify for zero-rated intra-Community dispatches.
The listing that needs to be submitted must contain information regarding the place of residence and VAT registration of each customer in an EU Member State other than Cyprus. It should also include the total value, in euros, of the supplies made to each customer during the relevant taxable period.
The VIES return must be filed electronically using TAXISnet.
Last Updated: 02/04/2024
Disclaimer
The information provided by Global VAT Compliance B.V. on this webpage is intended for general informational purposes only. Global VAT Compliance B.V. is not responsible for the accuracy of the information on these pages, and cannot be held liable for claims or losses deriving from the use of this information. If you wish to receive VAT related information please contact our experts at support@gvc.tax
