Cyprus - Customs and duties
As of 1 January 1998, tariffs on many goods imported from the European Union fell to zero as Cyprus adopted the EU's common customs tariff on most products from third-party countries. In addition, Cyprus is a member of the World Trade Organization (WTO). The Republic of Cyprus also provides a 20% price preference on domestic goods and services for public tenders, although foreign pressure—the European Union and WTO forbid such practices—may halt this practice. A 15% VAT is also levied.