Our tax professionals can assist you with your tax obligations and ensure that you meet all your tax compliance obligations and requirements on a timely basis and in a cost effective manner.
International Corporate Tax Planning
Cyprus has developed as a reputable international financial center due to the very beneficial tax regime. Our tax experts will advise you on the most tax effective means of achieving your international business goals. We can advise on international tax planning including:
- Identifying opportunities to minimize corporate taxes
- Efficient tax structures taking advantage of the Cyprus Double Tax Treaties
- Efficient tax planning according to your type of business (Real Estate, Royalty Income, Investment, International Trust, etc.)
- Advising on the tax implications of proposed transactions
- Assistance with the tax implications of a new acquisition
- Assisting on reorganizations and mergers & acquisitions of your business
- Advising on substance and physical presence
- Assistance for company redomiciliation to Cyprus
- Assistance with obtaining rulings from the Cyprus Tax Authorities
Corporate Tax Compliance
All tax resident companies within the Republic are required to file an Income Tax Return for every tax year by the 31 December of the following year. A three months extension is granted if the income tax return is submitted through the TAXISNET.
Compliance and handling your taxes on a timely basis is important to avoid tax implications and significant tax penalties. Our corporate tax compliance services include:
- Preparation and filling Company tax return (IR4).
- Preparation and filling Employer tax return (IR7).
- Preparation and filling Defence Returns (Rents, Interest, Dividends).
- Preparation and filling of declarations of Dividends and Dividend Distribution.
- Assistance with all corporate compliance matters with the Cyprus Tax Authorities.
- Application and acquiring the Tax Residence Certificate.
- Application for a tax clearance and examination of tax liabilities or tax refunds.
- Preparation and submission of Temporary Tax Returns.
- Assistance with the preparation and filling of PAYE computations.
Personal Tax Compliance
All individuals who are earning income within the Cyprus Republic and exceed the tax free threshold are obliged to submit personal tax forms.
Employees are required to do so for every tax year on the 30th of April of the following year and self-employed individuals at the 30th of June. According to the new rules a three month extension is provided if the tax declaration is submitted through the TAXISNET.
Our personal tax compliance services include:
- Preparation and filling of personal income tax returns (IR1)
- Preparation and filling Employer tax return (IR7)
- Preparation and filling Defence Returns (Rents, Interest)
- Assistance with all personal compliance matters with the Cyprus Tax Authorities
- Application and acquiring the Tax Residence Certificate
- Application for a tax clearance and examination of tax liabilities or tax refunds
- Preparation and submission of Temporary Tax Returns
- Assistance with the preparation and filling of PAYE computations
- Checking, reviewing and/or objecting to assessments issued by the Cyprus Tax Authorities
- Assistance with the preparation and filling a Capital Statements
- Assistance with Property Tax and Capital Gains Tax
Value Added Tax Outsourcing
The current threshold in Cyprus for registering for VAT for a trading business is €15,600.
Our VAT tax professionals can assist you with your VAT compliance obligations and provide you with VAT solutions and optimize VAT recovery.
Our comprehensive VAT outsourcing services include:
- Registering with the VAT authorities in Cyprus and obtaining an EU VAT Number
- Preparation and filing of VAT, INTRASTAT and VIES returns
- Payment of VAT and making VAT refund applications
- Dealing with VAT department queries and inspections
- VAT treatment of specific transactions
- VAT advisory services when providing services or goods within the EU