Corporate tax compliance in Cyprus encompasses the practices of observing the rules and regulations regarding the taxation or profit both for resident and foreign companies deriving income from the country. Our Cypriot accountants specialized in tax compliance can provide you with complete information about the tax principles, the applicable laws and the options for tax planning and minimization. Working with our team of experts will facilitate the process of observing the local rules and, in general, will allow investors to avoid any unpleasant sanctions that can rise from noncompliance.
Cyprus is seen as one of the most advantageous locations for company creation in Europe because of its low-tax regime. Moreover, the country’s position makes it a strategic location to base a business because it offers quick access to three major markets: Europe, Asia, and Africa. These two key benefits make it a preferred location both for those who wish to open a new business and those who are looking to expand internationally.
Working with an accounting firm in Cyprus presents important advantages that relate not only to tax compliance and tax planning but also the overall process of outsourcing accounting matters. This makes it a lot easier for company owners to focus on developing their business in Cyprus.
The list below is a summary of the most important types of corporate taxes, summarized by our Cypriot accountants specialized in tax compliance.
Cyprus imposes no withholding tax on dividends, another advantage for investors looking to open a company here. There is no real estate tax and stamp duty is payable only in certain conditions. One of our agents can give you complete information about all of the taxes for corporations in Cyprus.
Some of the key principles referring to tax compliance for corporations in Cyprus are listed below:
In addition to the principles listed above, every company in Cyprus must maintain proper books and prepare the annual financial statements in accordance with the International Financial Reporting Standards. Moreover, the books and registers of a Cypriot company are to be kept for a period of six years.
The audit in Cyprus is performed by an authorized auditor and the audited financial statements are to be attached to the annual return, according to year.
Our team of tax experts provides a complete range of services, adjusted according to company size, type as well as the business field. We can help companies with specialized services as well as counseling for all matters relating to taxation and the current obligations, as imposed by theTax Department.
Corporate tax compliance while doing business in Cyprus can be facilitated by our team of accountants. We can provide tax advice and build tax strategies for small companies and large corporations alike. Our Cypriot accountants specialized in tax compliance have worked with local and foreign companies and can offer the necessary assistance for a variety of clients.
Contact our accounting firm in Cyprus for complete details about the tax and corporate services we provide.