Cyprus Extends VAT Payment Deadlines

Cyprus recently extended its deadlines for payments of certain value-added taxes, according to a March 2 KPMG post. The country deferred VAT payments for the periods ending Dec. 31, 2020, and Jan. 31, 2021, to later this year, KPMG said, with only certain taxpayers eligible. Cyprus is allowing VAT payers to pay the charges in three equal installments, and as long as certain conditions are met, the country will not impose late penalties or interest. The payments are now due in April, May and June.