The Cyprus Association of Civil Engineers (CPCO) expresses its strong concern regarding the amendment of the regulations for reduced VAT for first homes, since it believes it will be a blow, primarily for young couples but also for the economy of the country in general.
In a letter to the Minister of Finance, Konstantinos Petridis, and citing information from various media, the association expresses its strong concern about the proposed bill regarding the imposition of a reduced VAT rate of 5% on the delivery or construction of a house, for the first 140 sq.
(CNA)
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