Tax audit in Cyprus?

[dotbloup]

Question about tax audit:

In the US or in Europe, local tax authorities may decide to audit your company.

I think about the case where the accounting is not in Cyprus, meaning that we would need to travel to Cyprus to present our accounting.

I am not concerned about compliance but more about the "investigation" of my activities.

Do you know anything about tax audit in Cyprus?

 

[SasxInc]

You got the good question. I recently open an incorporation in Cyprus but i never heard about auditing, my agent never tell me. I should ask my agent ....

 

[JohnLocke]

There is no need to travel to Cyprus not to visit any tax office. If your agent is an certified accountant they will be able to take care of everything for you. It cost some money sure, but there will most often not be any troubles.

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[Sansa]

SasxInc said:
You got the good question. I recently open an incorporation in Cyprus but i never heard about auditing, my agent never tell me. I should ask my agent ....
Click to expand...

Wow, how did you opened an account in Cyprus? Can you tell me the step by step procedure if you don't mind?

 

[dotbloup]

Admin said:
There is no need to travel to Cyprus not to visit any tax office. If your agent is an certified accountant they will be able to take care of everything for you. It cost some money sure, but there will most often not be any troubles.
Click to expand...

Excuse me, i want to clearly understand. You mean that a certified accountant in Cyprus with access to our accounting software (Xero for instance) and digital invoices are enough?

 

[SasxInc]

Sansa said:
Wow, how did you opened an account in Cyprus? Can you tell me the step by step procedure if you don't mind?
Click to expand...

It's not difficult opening an offshore company.
Take some time to read this forum. I think this post will help you.
Company Formation 247

 

[deadpool]

Admin said:
There is no need to travel to Cyprus not to visit any tax office. If your agent is an certified accountant they will be able to take care of everything for you. It cost some money sure, but there will most often not be any troubles.
Click to expand...

What are the typical troubles you would mention sir?

 

[Sansa]

SasxInc said:
It's not difficult opening an offshore company.
Take some time to read this forum. I think this post will help you.
Company Formation 247
Click to expand...

I appreciate your effort and thanks for linking a good thread. What about the current status of your company? Is it running good?

 

[ponyphony]

dotbloup said:
Excuse me, i want to clearly understand. You mean that a certified accountant in Cyprus with access to our accounting software (Xero for instance) and digital invoices are enough?
Click to expand...

If that's true I will be on it because it will make it much easier to administrate a Cyprus company then compared to my local company in France 🙂

 

[JohnLocke]

dotbloup said:
Excuse me, i want to clearly understand. You mean that a certified accountant in Cyprus with access to our accounting software (Xero for instance) and digital invoices are enough?
Click to expand...

Yes exactly no problem at all, you can even to it in an excel sheet if you like that!

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[Jack Dui]

Admin said:
There is no need to travel to Cyprus not to visit any tax office. If your agent is an certified accountant they will be able to take care of everything for you. It cost some money sure, but there will most often not be any troubles.
Click to expand...

Exactly. Agent or law farm supposed to manage all the things.

 

[huntof]

Admin said:
Yes exactly no problem at all, you can even to it in an excel sheet if you like that!
Click to expand...

That's good. So it mean we don't have to take care of all of it and can leave it to the agent that is managing our Cyprus company formation already. It's pretty easy, I thought it was much more difficult.

 

[allan]

I had no single issue back then when I operated my Cyprus company. I'm in the process to setup a new Cyprus company because of the tax benefits and the ease to get bank account + merchant account.