Cyprus

Corporate Tax 

Taxation is a fundamental aspect of modern economy and as such, forms a crucial part of a business’ strategy, in particular those with international transactions. Structuring cross-border transactions in a tax efficient manner demands a degree of specialization that goes beyond a business’ internal resources. Corporate tax does not only represent a substantial outflow of funds from a business but also, adds to the drain on management time caused by increased reporting obligations, reconciliations of effective tax rate, a more investigative approach by the tax authorities and harsher penalties for non-compliance; hence, the tax burden can be significantly larger than one might hope.
Through our understanding of our clients’ businesses and industries, we deliver tax planning and compliance services that help enhance compliance, improve cash-flow and adopt beneficial tax treatment in various areas of specialization: banking, insurance, leasing, real estate, IT, telecommunications, media, transfer pricing, mergers and acquisitions, due diligence and restructuring of companies. The multidisciplinary nature of KPMG allows us to provide broad ranging advice in respect of operational, financing, accounting and taxation issues.

We advise and assist clients on issues such as:

  • Improving a company's overall tax charge, utilizing the provisions in tax legislation 
  • Providing advice to those who are establishing a new business
  • Advising on tax-efficient financing structures
  • Tax reporting for companies and other entities subject to tax
  • Tax obligations for Permanent establishments in Cyprus and abroad
  • Corporate tax compliance
  • Developing or reviewing corporate tax policies
  • Assistance during tax inspections
  • Assisting with the tax implications arising out of a proposed liquidation of a company

We maintain a dialogue with relevant authorities and provide our clients with practical, forward-thinking advice based on a deep understanding of their individual tax issues.