Cyprus cuts VAT to 0% for certain products
[InTime News]
The Cyprus Council of Ministers approved a decree during Tuesday’s session, which imposes a zero VAT rate on the delivery of certain products until October 31.
These include bread, milk, eggs, baby food, baby diapers, feminine hygiene products, and adult diapers.
The purpose of this temporary measure is to ease the burden on households coping with the increased prices of essential products, resulting from external factors such as global price hikes and ongoing economic crises affecting supply chains.
The cost of implementing these measures is estimated to be around 11 million euros.
