Opting for Accounting Services in Cyprus is a good choice as Cyprus jurisdiction has one of the most favorable and efficient tax laws in a fast growing economy in Europe.
The double taxation agreements Cyprus has entered with numerous countries is a huge advantage as business entrepreneurs avoids being taxed twice. Tax professionals can lead you by providing assistance on different areas and tax structures.
There can be a reduction in tax if changes are made in certain areas like, International trade, International property, investment holding companies, insurance and re-insurance, leasing and employment.
Audit firms in Cyprus employs an abundance of trained and experienced auditors who are responsible for evaluating and presenting accurate financial information to the shareholders of the companies. Among the reputed accounting services in Cyprus are statutory and IFRS audit for companies registered in Cyprus, preparation of stand-alone financial statements with International Financial Reporting Standards (IFRS) and consolidated financial statement.
Cyprus auditors perform internal audit which includes:-
- Special investigations on detection of fraud
- Preparation and documentation of internal procedures and processes based on client’s requirement in accordance to regulatory bodies
- Design, implementation and preparation of internal audit reports
Cyprus accountants assist clients to make strategic decisions to capital financing, mergers and acquisition.
They also provide specialized VAT advice and guidance which includes:-
- Registering companies for VAT in Cyprus or other EU countries
- Advising clients on regulations and obligations
- Preparing and submitting VAT reports and EU sales list
- Assisting clients in dealing with VAT investigations and enquires
Benefits of hiring accounting service in Cyprus:
Accountants are not just experts in preparing tax reports; they are perfect advisors for small businesses. They provide complete assistance for managing cash flow, planning for growth and keeping the financial books in order.
They give advice to personal as well as business needs, especially for start-ups. Good accountants in Cyprus can provide assistance in making valuable decisions in regards to Cyprus corporate taxes.