Tax Advisory & Compliance

Tax Advisory & Compliance

Be a winner, in a demanding environment

Fidescorp helps a business or individuals, minimise their tax leakage while being compliant with tax laws and regulations in various jurisdictions.

Our team meets successfully the needs of each client, by planning and establishing a customized strategy.

Our specialized and experience team undertakes and performs:

• Τax optimisation reviews on complex corporate structures;
• Τax reviews of financial statements and reports;
• Τax advice on proposed transactions involving several jurisdictions;
• Evaluation of potential tax consequences of various business and personal wealth decisions;
• Tax advisory on changes in the tax and economic environment.
• The Fidescorp team also provides assistance on resolving disputes with tax authorities.

For individuals:

• We assess their tax position;
• We provide meaningful insights on potential ways of allocating their income-generating assets or even opting for alternative tax residency.

For Cyprus tax resident corporate and physical persons:

• We assist to ensure tax compliance by administering the required tax returns and other tax obligations.

INTERNATIONAL TAX ADVISORY

• Tax structures for international clients to ensure maximization of tax savings;
• Double tax treaties in international tax planning;
• Beneficial models for the companies;
• Cross border mergers and acquisitions;
• Update for the forthcoming changes in the tax legislation of Cyprus and the network

CORPORATE TAX ADVISORY

Fidescorp provides consulting, planning services and information, relating to tax issues faced by Cyprus and international companies.

• Tax Consultancy
• Strategic Tax planning
• International taxation
• Preparation of tax provisions
• Preparation and filing of corporate tax returns
• Advise on the amount and timing of tax payments

PRIVATE CLIENT TAX ADVISORY

Fidescorp provides assistance and consulting to individuals relating to any personal taxation issues, from planning to compliance.

• Tax Returns & computations
• Capital Statements
• Tax Consultancy & tax planning, personal compliance and business tax planning services
• Assistance with enquiries from tax authorities
• Handling international taxes
• Wealth preservation

VAT and Indirect taxes

• Registration of businesses for direct and indirect tax purposes where this is legally required, VAT registration, deregistration, completion and submission of quarterly VAT returns
• Acting as a fiscal representative for businesses
• Negotiations with a country's tax authorities to secure rulings and resolve disputes
• Advising on the VAT treatment of specific transactions and VAT refunds
• Negotiations with TAX-VAT Authorities

The Attractive Tax System of Cyprus

Cyprus has a simple and transparent tax system with one of the lowest corporate tax rates in the EU and multiple exemptions for both corporate and individuals.

The main characteristics of the Cyprus tax system are outlined below:

• Low corporate income tax rate of 12.5%
• EU & OECD Compliant
• Access to EU directives
• Extensive double tax treaty network with over 60 countries
• Dividend participation exemption (subject to conditions)
• Exemption from tax on gains from the disposal of securities (e.g. shares, bonds)
• Notional interest deduction on equity applies to all taxpayers and all business activities
• No withholding taxes on interest and dividends
• No taxation of capital gains (except for disposal of real estate in Cyprus or shares of company holding real estate in Cyprus)
• No succession taxes
• No Controlled Foreign Company (CFC) rules
• Tax neutrality on foreign exchange differences unless they arise from trading in currencies or currency derivatives
• Foreign tax relief on income subject to both Cypriot and overseas tax
• Exemption on profits of foreign permanent establishments (subject toc onditions)
• Company reorganisation rules based on the EU Mergers Directive allow for tax-neutral group restructuring
• Attractive Intellectual Property regime in line with “modified nexus approach” (OECD Action 5)
• No exit tax rules
• 50% exemption on employment income exceeding €100,000 per annum for non-residents taking up employment in Cyprus
• No tax on dividends, interest and rental income of non-domiciled individuals