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Cyprus Airports Brace for Record-Breaking August Surge

by THEFUTURE.TEAM
August 5, 2025

Record Traffic Projections

Cyprus’ premier airports, operated by Hermes Airports, are poised to welcome over 1.6 million passengers this August, setting a historic benchmark for the region. The summer peak, traditionally observed at Larnaca and Paphos, signals an unprecedented influx with current figures already exceeding last year’s record levels.

Enhanced Passenger Services

In anticipation of peak travel volumes, Hermes Airports strategically advises all passengers to arrive at least two hours before their scheduled flights. Updated guidance, particularly during peak hours, may be disseminated via the company’s active social media channels. Additionally, travel convenience is heightened through advanced parking reservations via the Hermes website, offering flexible options and competitive online pricing.

Streamlined Check-In And Security

Innovative digital initiatives are playing a critical role in smoothing the travel experience. The introduction of a digital chatbot, accessible through Facebook Messenger, Viber, and X (formerly Twitter), provides real-time flight updates—ranging from gate numbers to estimated departure times and check-in desk details. This tool not only assists frequent flyers but also aids those picking up arriving passengers in planning their visits efficiently.

Passengers are encouraged to make use of online check-in services and self-service kiosks available at both terminals. With systems like Tagomat® and Bagomat for quick luggage tagging, Hermes streamlines the entire process, reducing wait times significantly. Document preparation is further modernized with features such as biometric options for expedited clearance via the BorderXpress system.

Upgraded Facilities And Special Considerations

The upgrades underway across Cyprus’ airports extend beyond the check-in counters. Enhanced shopping and dining areas, along with pre-order options for duty-free items, complement the new Express Lane services available at both Departures and Arrivals. These facilities allow passengers to bypass traditional queues and enjoy a more relaxed waiting experience in lounges offering complimentary refreshments.

Special provisions remain in place for travelers with pets, disabilities, or reduced mobility, ensuring a comprehensive and inclusive service framework. Moreover, as airport upgrade works continue, on-site signage and regular online updates are crucial for adapting to temporary changes in vehicle access and transport waiting zones.

Through a combination of technological innovation and customer-centric services, Hermes Airports is not only meeting the rigorous demands of increased summer traffic but also setting a new standard for efficiency and traveler satisfaction in the region.

EU E-Commerce VAT Systems Generate €257.9 Million Revenue for Cyprus in 2024

by THEFUTURE.TEAM
August 11, 2025

Robust Revenue Growth Through Streamlined VAT Collection

Cyprus has demonstrated a significant fiscal boost in 2024 with €257.9 million generated from the European Union’s e-commerce VAT systems, according to Tax Commissioner Sotiris Markides. This impressive performance underscores the effectiveness of the One Stop Shop (OSS) and Import One Stop Shop (IOSS) frameworks in simplifying cross-border tax compliance.

Simplified Procedures for EU and Non-EU Businesses

The OSS system allows Cyprus-registered businesses to streamline VAT declaration and payment on sales to consumers in other EU countries. Companies simply register on the local OSS platform, apply the consumer’s VAT rate, aggregate their submissions quarterly or monthly, and remit a single consolidated payment. Subsequently, Cyprus allocates the appropriate share to each respective EU country. This efficient process extends to non-EU sellers as well, who can have their intra-EU distance sales managed under the Union Scheme.

Breakdown of VAT Revenue Streams

Last year’s declarations under the various schemes illustrate the system’s broad reach: €217.9 million was collected via the Union Scheme, €36.9 million through the Non-Union Scheme, and €3.1 million via the Import Scheme. While the Union Scheme caters to both EU and non-EU sellers engaging in distance sales, the Non-Union Scheme specifically accommodates non-EU firms delivering services to EU consumers. Furthermore, the Import Scheme targets goods valued at less than €150 that are imported from outside the EU.

Implications and Broader Impact

Implemented in July 2021 as an evolution from the more limited MOSS system, these reforms have not only consolidated tax collection through an expansive OSS but also integrated the IOSS for low-value imports. By designating certain online marketplaces as “deemed suppliers,” the new framework ensures that VAT collection is both efficient and equitable. Across the EU, these mechanisms have generated over €33 billion in VAT revenues in 2024, reflecting a successful effort to simplify tax compliance, reduce administrative burdens, and promote fair taxation across the bloc.

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