Tax

Direct tax

Tax is considered as an involuntary fee which is levied on corporations and individuals, enforced by governments in order to finance their activities.

As access to the global marketplace grows with cross border transactions, it is vital that a deep understanding and knowledge of the various tax laws and systems is gained. This will enable Corporations and Individuals to structure and plan their activities in the most efficient way which within the International Taxation principles, the frameworks of the OECD model treaty, the transfer pricing principles will result in minimising the tax burden on income and profits.

Our team will assist you to gain an understanding on Local and International taxation principles and offer you a customised advice suitable to your actual needs, for the setting and administration of an efficient and effective tax structure.

"The hardest thing to understand in the world is the income tax"

Albert Einstein

Indirect tax

Indirect taxes are also imposed by the governments as a mean to increase their resources and finance their activities.

Unlike direct taxes which are paid directly by individuals or corporations to the governments, indirect taxes are paid indirectly by the final consumer of goods and services, while paying for purchase of goods or for enjoying services.

Common examples of indirect taxes are the Value Added Tax (VAT) and Excise Duties (i.e. imposed on cigarettes, petrol, alcohol etc). Excise duties are normally placed on inelastic commodities since the tax causes a small fall in the quantity consumed and as a result the total revenue of the government from the tax will be greater. A good example of this is the high level of duty on cigarettes and petrol.

Our team will assist you to gain an understanding on Local and EU VAT principles and offer you a customised advice suitable to your actual needs, for the setting and administration of an efficient and effective VAT structure.

Our tax services include:

Taxation

  • International tax planning and assistance with the setting up of tax structures
  • Local tax planning services for companies and individuals
  • Review of agreements and provision of advise on the tax implications
  • Preparation and submission of personal and corporation tax returns
  • Assistance with obtaining tax rulings
  • Assistance with tax investigations
  • Assistance with obtaining tax clearance reports
  • Payment of Taxes
  • Assistance with the preparation and submission of Tax Objections
  • Assistance with the preparation and submission of capital statements

Value Added Tax

  • Registration of companies in Cyprus and assistance for their registration in other EU- countries
  • Preparation and submission of VAT returns
  • Preparation and submission of VAT refund returns in Cyprus
  • Applying for EU VAT refunds
  • Preparation and submission of IntraStat and VIES returns
  • Review of agreements and provision of advise on the tax implications
  • Assisting clients in dealing with VAT investigations and other enquiries
  • Registration to MOSS (Mini One Stop Shop) scheme