Income Tax Services
A team of tax experts will work with you to understand the nature of your business, objectives and future goals. We will full understand your business so that we can create the perfect tax plan.
We provide a professional forward thinking approach, which delivers effective tax planning that takes into account both local and international tax implications and protects the business assets.
Cyprus/International Tax planning
KTC’s tax advisors can assist individuals or legal entities to adopt the right company structure in Cyprus or abroad in a tax efficient manner. The legal structure will affect the total tax burden on the investment by maximizing the return to the shareholder. We examine the nature of the investment, examine the possible tax aspects that may arise and propose an optimum tax structure for implementation.
Tax planning should be a proactive approach to investment decision making rather than a reactive one in order to protect the wealth of your company. We can also review tax exposure of an existing structure and provide restructuring options.
Our firm provides a comprehensive range of tax services. Through our experienced and qualified team we ensure compliance with the current local and international tax legislation which includes the following:
- International tax planning structures
- Tax review
- Tax rulings
- Tax clearance
- Registration within the Inland Revenue Department
- Preparation and submission of annual tax returns
- Tax Residency Certificates
- Preparation of annual income tax computations
- Preparation and submission of Annual Provisional tax declarations
Indirect tax (VAT)
VAT requires advanced knowledge of the EU and local legislation and years of working experience and exposure dealing with the most complicated VAT issues. KTC’s VAT professionals have proven understanding and success in indirect tax both locally and internationally.
At KTC we can assist you on the following VAT services:
- VAT advisory
- VAT audit services
- VAT planning
- VAT rulings
Communication and dispute resolution with VAT authorities
- Preparation and submission of quarterly VAT return
- Preparation and submission of VIES compliance forms
- Preparation and submission of Intrastat compliance forms
The advantages and deductions offer incentives for relocation, and operation in Cyprus, or under employment for a local establishment. Cyprus is an EU member, operating under a secure legal and stable financial environment, protecting and attracting businesses and individuals.
Cyprus tax residents (individuals) (individuals) enjoy the benefits of the various levels of tax rating according to their income, with 0% tax on yearly income up to €19,500. In addition,tax deductions and benefits are given to individuals willing to move permanently to Cyprus.
The corporate tax rate of 12.5% is a huge advantage for any international entrepreneur. Enterprises that and use Cyprus as a base for their operations and have a registered office in the country, are considered tax residents of Cyprus. In addition to the corporate tax rate, companies enjoy many other deductions and exemptions.