Tax Compliance

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Tax Rulings in Cyprus

We can apply for advance tax rulings in Cyprus even on complicated tax matters. We can also advise in which case the client may need a ruling.

Tax Due Diligence

We can handle both financial and tax due diligence services for companies in Cyprus and also advise the client on the ways to reduce detected tax risks.

Tax Review of Contracts

We can review any contracts/ agreements and give our recommendations in respect of proper documentation of operations, tax risks including VAT.

Substance in Cyprus

We can advise on the level of substance required for Cyprus companies to apply for the benefits under the various Double Tax Treaty Cyprus has as well as the substance requirements for the company to be considered a Cyprus tax resident.

Transaction support

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Due diligence services

Finance and tax due diligence of Cyprus companies with identification of possible risks and provision of possible options to mitigate such risks.

Internal audit of business processes

• Analysis of the existing business processes and structure of companies
• Development of the effective structure of the company and relevant key performance indicators (KPI) for the departments and individuals to increase the financial results of companies

Personal tax services

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Tailor made consultations

International tax consulting for individuals.

M&A Services for individuals

Recommendations in respect of documentation of transactions, preparation of the agreements in order to increase the tax effectiveness.

Review of existing structures

Review of the current personal holding structures with a view to assess possible tax risks and to improve the tax effectiveness of the structures.

Gift and inheritance planning

Development of strategies and tax procedures related to transfer of assets, taxes and inheritance of business.

Compliance Consulting

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Our team has extensive experience in compliance matters over various industries with specialization in tax and banking compliance. We understand the complexities of a variety of business contracts, licensing agreements, and reporting processes and procedures. We have the know-how to assist you to deal with your regulatory requirements and ensure you are aware of the rules, regulations and policies that are applicable to your operations and business sector.

NOVATAX can provide a number of day-to-day compliance supporting services based on best practices by keeping up to date with the ever-changing regulatory environment. We take pride in meeting tight deadlines, advising on any possible effect on your organization and provide feasible and appropriate solutions or actions.