Taxation

Kreston Proios’ Ltd tax advisors can assist international and local corporate entities and private individuals to identify and develop tax strategies which aim to minimise their tax liabilities and also assist them to minimise their tax exposure to the increased reporting obligations, tax investigation policies and penalties imposed in recent years by the tax authorities.

Cyprus tax system environment, its competitive corporate tax of 12,5% and  the extensive network of double tax treaties have contributed to rank the island as a serious EU tax jurisdiction for both outbound and inbound investments, where  non EU companies are seeking to expand their operations into the  EU and more often when EU companies are seeking to expand their operations outside the EU.

The most popular international tax structures which are used in Cyprus are holding structures, group financing structures, royalty holding entities, trading entities and securities trading entities.

Individual and Corporate tax planning

  • Assist in the tax compliance and filing of the tax returns to the authorities.

  • Assist in the preparation of provisional tax returns

  • Assist individuals/corporations to determine their personal/company’s tax liabilities

  • Represent clients before the tax authorities

International Tax planning

  • Determine cross border tax consequences

  • Implement tax efficient structures

  • Assist in the tax compliance and filing of the tax returns to the authorities

  • Assist in the preparation of provisional tax returns

  • Assist in the preparation of tax computations

  • Represent clients before the tax authorities

  • Assist to obtain tax rulings from the tax authorities

VAT

  • Determine VAT treatment

  • Assist in registration to VAT, Intrastat and VIES systems

  • Assist to prepare and submit VAT, VIES and Intrastat returns

  • Assist the VAT compliance and filing of returns to the authorities

  • Review of VAT reporting procedures

  • Represent clients before the VAT authorities

Tax Facts