Living in Cyprus can be considered moderately inexpensive, when compared with Western Europe. Cyprus has value-added tax (VAT) equal to 18%, which is automatically added to the cost of goods and services. This tax is not refundable to visitors from within the European Union.
Money and banking
The Euro (€) is the Republic of Cyprus’ unit of currency. All major currencies can be exchanged in banks and hotels in Cyprus, although it may be difficult to get change for a €500 note.
Public transportation in Cyprus has been recently upgraded with all new buses in Nicosia. There are no railways in Cyprus.
Useful link: http://www.cyprusbybus.com/