The Cyprus Architects' Association is concerned about the draft amendment to the Value Added Tax Law of 2000 until 2021, which concerns the imposition of a reduced VAT rate of 5% on the supply or construction of a dwelling, covering the first 140 sq.m. of the dwelling, instead of the first 200 sq.m. of the main and permanent residence currently in force.
Considering that access to housing is a fundamental right recognised in Article 34 of the Charter of Fundamental Rights of the EU, the Cyprus Architects' Association calls on the Government to "reconsider the relevant bill, which disproportionately increases the tax on the acquisition of permanent housing in the midst of an acute economic crisis, leaving the middle classes of the country exposed".
"Studying the Table of Building Permits by Project Category Year 2021 of the Cypriot Statistical Service
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