Cyprus Tax Agency Explains Application of EU Intra-Community Trade Rules for Post-Brexit Transition Period

The Cypriot Tax Department Jan. 7 explained the application of EU intra-community trade rules for the post-Brexit transition period. The announcement clarifies that goods transported between Cyprus and the U.K. will be considered intra-community trade for VAT purposes if: 1) the transportation took place during the transitional period of Feb. 1, 2020, to Dec. 31, 2020; and 2) transportation begins before Dec. 31, 2020, and concludes after Jan. 1, 2021. The announcement further clarified the VAT obligations of taxpayers importing goods after the transitional period is over. [Cyprus, Tax Department, 01/07/21]

Reference:
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