Our firm offers a plethora of high quality and cost-effective accounting and reporting services to help clients to focus on what they do best, growing their business. We strongly believe that accurate and timely financial information is crucial to client’s management to make informed business decisions. Value Added Tax (VAT) is imposed on the delivery of goods and services in Cyprus and on the acquisition or importation of goods from other European Member States. VAT laws and regulations are changing constantly, and this specific area of taxation is one of the most complex areas of taxation in the European Union. Heavy penalties and fines can be imposed if the VAT returns with the relevant authorities are not made correctly and in a timely manner. Our VAT team which consists of experienced VAT specialists can assist and guide you through this complex procedure and ensure that all obligations in this area are met in the most cost-efficient way. The company law is Cyprus requires every company incorporated in the Republic of Cyprus to submit annually to the Registrar Companies and the Inland Revenue its financial statements prepared by licensed auditors eligible to perform statutory audits. Licensed auditors are regulated under the Companies Law and the assigned Regulated Bodies. Our audit guarantees that our clients follow all applicable reporting standards (IRFSs) and provides a detailed and in-depth presentation of business financial statements to provide real value to our client’s business in a cost-effective way.

AREAS OF PRACTICE

• Audit & Assurance
• Local & International Taxation:
• Accounting & VAT

Audit & Assurance:

As per Cyprus Law, every company incorporated in the Republic of Cyprus is liable to submit annually to the Registrar Companies and the Inland Revenue its Audited Financial statements prepared by licensed auditors eligible to perform statutory audits. Licensed auditors are regulated under the Companies Law and the assigned Regulated Bodies.

Our well-educated and highly trained audit team will assess each client’s controls and develop an audit program that will ensure that appropriate attention is devoted to the most important areas, and potential problems are promptly identified to guarantee the efficiency of financial reporting.

Our audit guarantees that our clients follow all applicable reporting standards (IRFSs) and provides a detailed and in-depth presentation of business financial statements to provide real value to our client’s business in a cost-effective way.

Our services include the following

• Statutory audit of Financial statements prepared in accordance with International Financial Standards (IRFSs)
• Financial and management audits with specific features and purposes
• Audit Report in accordance with International Standards on Auditing (I.S.A)
• Business Fraud Investigations and Dispute Services
• Preparation and analysis of financial statements to the directors and shareholders
• Evaluation of opportunities and risks.
• Internal controls system review
• Management letter on weaknesses and suggested improvements
• Companies Limited Reviews
• Year and Planning

Internal Audit

Internal audit helps the organization to achieve its objectives by evaluating a systematic and methodical approach to its risk management processes, control and management of the entity and making proposals to strengthen.

The main objective of an internal audit is to verify and ensure that the organisation’s policies and procedures are followed and inform the top management about the gap in the policy compliance.

Regulated and public interest entities are obligated to maintain an effective audit function as an internal section of their internal control system.

Our experience team can provide the following:

• Internal audit and special reports as required by law and regulations
• Design and implementation of internal audit programs
• Investigation of the internal audit functions and identify areas for improvement
• Effectiveness and efficiency of operations
• Compliance with laws and regulations

Local & International Taxation:

Our aim is to work closely with our clients, that is, individuals and companies, allowing them to fully exploit and benefit from the numerous tax advances and schemes of the Cyprus tax system.

We can advise and assist you or your business on any tax related matters locally or Internationally and together we can develop a clear tax plan to ensure legal and regulatory compliance and at the same time minimizing tax liability.

Our services include the following:

Personal Tax Services:

• Personal tax planning
• Preparation and Review of tax computations and tax returns
• Income tax and capital gains tax planning
• Dealings with enquiries from the Inland Revenue Department

Corporate Tax Services Locally or Internationally

• Preparation and review of tax provisions for financial statements
• Preparation and review of tax computations and determining tax liabilities
• Determining tax consequences of a specific transaction and advise on the proper tax treatment
• Representing clients before tax authorities upon request
• Corporate tax Planning
• Tax structure optimization
• Guidance on double tax treaties
• Tax opinions on contracts and agreements

Accounting & VAT:

Our cost-effective accounting and reporting services assist clients to focus on what they do best, growing their business. We strongly believe that accurate and timely financial information is crucial to client’s management to make informed business decisions.

Our team, using cutting edge technology and professional accounting programs, guarantees that our clients are administered in the most cost-effective way possible.

Our services include the following:

• Bookkeeping of company transactions ( monthly, quarterly or annual basis)
• Preparation of Management Accounts and presentation to the Management monthly, quarterly or yearly
• Procedures for submission of VIES returns
• Budget preparation and reports that evaluate the actual performance of the company compare to the budget
• Payroll Accounting Services
• Preparation of Financial Statements according to International Financial Reporting standards
• Assume the role of your accounting department

Value Added Tax (VAT) is imposed on the delivery of goods and services in Cyprus and on the acquisition or importation of goods from other European Member States. VAT laws and regulations are changing constantly, and this specific area of taxation is one of the most complex areas of taxation in the European Union. Heavy penalties and fines can be imposed if the VAT returns with the relevant authorities are not made correctly and in a timely manner.

Our VAT team can assist and guide you through this complex procedure and make sure that all obligations in this area are met in the most cost-efficient way:

Advisory

• Specific transactions VAT treatment
• VAT reviews to recognise area of deficiencies and identify risks
• Tax planning advice to optimize the overall Vat tax burden

Compliance

• VAT Registration
• Preparation, review and submission of VAT returns
• Maintenance of accurate and proper VAT records
• Representations with tax authorities on VAT matters