KME Chartered Accountants

Tax is a complex and constantly changing area. Out tax professionals will assist you by:

Tax Compliance

Corporate tax

  • Preparing tax provisions for Financial Statements
  • Preparing tax computations and company returns
  • Reviewing tax provisions for management or for any other specific reporting purposes
  • Advising on the exact amount and the timing of the tax payments.

Personal tax

  • Assistance with enquiries from the Inland Revenue
  • Preparation of tax computation and tax returns

International tax planning

  • Mergers and acquisitions
  • Income and capital gains tax
  • Utilisation of tax treaties and local tax laws
  • VAT structuring

Tax advantages of setting up a company in Cyprus

The latest global financial developments have lead to the establishment of Cyprus as one of the most successful international business centers worldwide.

KME can help you set up different types of an International Business Company as well as International Trusts.

There are a number of benefits associated with setting up a Cyprus Company. Some of these benefits include:

  • Capital gains on disposal of titles exempt from taxation in Cyprus
  • Dividend income exempt from taxation in Cyprus (with minor limitations)
  • No withholding tax on payment of dividends, royalties and interest abroad
  • EU Parent – Subsidiary directive applies as from 1 May 2004 thus eliminating withholding taxes on dividend payments from EU countries (under directive conditions)
  • No Controlled Foreign Companies(CFC) rules in Cyprus
  • Attractive Double Tax Treaty network, reducing withholding taxes on dividend income
  • Very simple and tax efficient exit strategies available
  • Rulings from Tax Authorities can be obtained
  • Thin spread of income possible for financing and royalty structures

Our goal is to help you put the correct strategy in place, to maximize your wealth and minimize your tax. Ensuring tax-efficiency is essential to all your business decisions.

Our firm can support you by preparing a thorough review of your present circumstances and planned future circumstances, which will enable us to arrive at valuable recommendations for a number of planning opportunities to reduce your potential tax liabilities.