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In 1991, Cyprus introduced a value-added tax (VAT), which is at 19% as of 13 January 2014. Cyprus ratified the new world trade agreement (General Agreement on Tariffs and Trade, GATT) in 1995 and began implementing it fully on 1 January 1996. European Union accession negotiations started on 31 March 1998, and concluded when Cyprus joined the ...
"CYPRUS·ΚΥΠΡΟΣ·KIBRIS", Coat of arms, year of minting Cyclamen: 1983 1 October 1992 [3] 1 December 2001 [3] μισούι 1 cent 1.71 cent 16.5 mm 1.35 mm 2 g Copper, zinc, nickel "CYPRUS·ΚΥΠΡΟΣ·KIBRIS", Coat of arms, year of minting Value, stylised bird in front of a tree branch from a jug of bichrome ware of the Cyproarchaic period
On 13 February 2007, the Republic of Cyprus formally applied to join the eurozone on 1 January 2008. The final decision was expected to be taken in Brussels on 21–22 June at an EU Summit to be ratified by all EU heads of state. [6] On 9 March 2007, the campaign to inform the citizens of Cyprus about the euro officially began in Cypriot media.
The pound, or lira (Greek: λίρα, plural λίρες, and Turkish: lira, Ottoman Turkish: لیره, from the Latin libra via the Italian lira; sign: £, sometimes £C [1] for distinction), was the currency of Cyprus, including the Sovereign Base Areas in Akrotiri and Dhekelia, [2] [3] from 1879 to 2007, when the Republic of Cyprus adopted the euro.
Map of the European countries by HDI value in 2022 (includes transcontinental countries). Very high HDI ... Cyprus [N 1] 0.907 0.901 0.900 0.901 0.874 0.859 15 30
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. [2] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.
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Value added tax applies to most sales of goods and services. The standard rate applies at 19% in 2014, up from 17% since 2013. [3] A lower rate of 9% applies to groceries, books and hotel services. The Cyprus VAT is part of the European Union value added tax system. Certain goods and services are exempt from VAT.
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