Cyprus web studios: domain purchase for 13 EUR, are you serious?

Going through some of the web studios on the island, I was amazed on skyscraping prices on domain registrations. .com/.net/.org TLD’s for over 13 EUR. I just got couple of questions to those who actually do the reselling of these services:

  1. Under which contact name the domains will be registered? What about VAT?
  2. Over 5 EUR overprice, do you really think that customers won’t find which service you use to register the domains cheaper than your offer?
  3. What’s included in this 5 EUR?

Regarding the prices, I’m going to leave this one here for sake of price comparison (dumping?!):

Fozzy domain registration prices