- Do you fear possible fines and penalties in Cyprus?
- Are you tired of the burden of VAT compliance?
Don’t let accounting, VAT or VIES to stress you out. Today, contact us to get the professional assistance and VAT Services in, Cyprus.
Contact us today to schedule your FREE consultation and secure expert
Our Accounting Team provides full-fledged VAT and Tax Compliance services (such as submitting VAT, reporting to the local authorities, reporting to the VAT Information Exchange System, etc.), and keeping VAT records. Within this area we provide registration of companies in the VAT/VIES ( VAT Information Exchange System ) authorities within Cyprus. We are also able to file and provide VAT and VIES returns to the authorities concerned with them and also EU Sales Lists and IntraStat returns to companies that trade within the EU.
Accounting & Bookkeeping (IFRS- ready)
Expert, IFRS-ready Accounting & Bookkeeping to ensure statutory compliance and financial accuracy.tailored for Cyprus SMEs, CFEs, holding companies, tech firms, and startups operating in the Emirates market.
- Meticulous preparation of monthly books.
- Accurate bank and credit card reconciliations.
- Management of necessary accruals.
- Creation of detailed management packs for strategic oversight.
VAT Registration & VIES Onboarding
Comprehensive support in securing necessary VAT IDs and exchange systems to facilitate intra-EU trade designed for new entities crossing VAT thresholds and exporters of services/goods to ensure compliant international trade.
- Thorough assessment of VAT needs and threshold requirements.
- Official obtainment of the client’s VAT identification number.
- VIES registration for seamless handling of intra-EU supplies (goods and services).
- EORI registration, if required, to manage international trade activities.
VAT Returns & EC Sales Lists (VIES)
Comprehensive management and submission of all required VAT documentation to ensure full compliance for active VAT-registered companies.
- Preparation and filing of periodic VAT returns.
- Preparation and submission of VIES / EC Sales Lists for cross-border transactions.
- Support for corrections and adjustments to previously filed documents
- Assistance and guidance with late filings to minimize penalties.
VAT Advisory: Place of Supply & Reverse Charge
Specialized VAT Advisory to correctly determine tax obligations, minimize liability, and ensure compliance in complex cross-border scenarios. Crucial guidance for SaaS providers, digital agencies, e-commerce platforms, logistics companies, and CFEs operating across multiple jurisdictions.
- Determining Place of Supply rules (B2B and B2C).
- Advising on VAT for digital services and triangulation trade.
- Guidance on imports/exports and the application of Reverse Charge mechanisms.
- Maximizing eligible Input VAT Recovery.
Invoicing Compliance & Record-Keeping
Ensuring that all client invoicing and internal record-keeping processes meet rigorous legal and regulatory requirements. Essential for all Cyprus traders and critical for businesses in audit-sensitive sectors requiring impeccable documentation.
- Review of official invoice content requirements and proper numbering sequencing.
- Guidance on issuing compliant credit notes and archiving procedures.
- Advice on legal retention periods for documents.
- Special consideration for Permanent Establishment (PE) implications on invoicing.
Management Reporting & KPI Dashboards
Customized, high-impact financial reporting and dashboards designed to support strategic oversight and rapid growth decisions. Essential for scale-ups, corporate boards, and investors requiring timely, actionable financial intelligence.
- Preparation of detailed monthly management packs.
- Development of robust cash-flow forecasts.
- In-depth analysis of budget vs. actual performance.
- Calculation and reporting of critical unit economics and key performance indicators (KPIs).
IFRS Financial Statements & Audit Support
Expert preparation of financial statements and complete support throughout the auditing process, ensuring a smooth and efficient closure Designed for all companies subject to statutory audit that require accurate, IFRS-compliant year-end reporting.
- Comprehensive management of the entire year-end close procedure.
- Preparation of detailed audit schedules and foundational lead sheets.
- Professional liaison with external auditors to address queries and facilitate approvals.
- Delivery of final, compliant IFRS Financial Statements.
Cloud Accounting Setup & Systems Migration End-to-end implementation and migration to modern Cloud Accounting Systems, ensuring a seamless transition and optimal setup.
Essential for founders modernizing finance operations and seeking scalable, efficient cloud-based platforms.
- Expert design and customization of the client's Chart-of-Accounts.
- Selection and integration of a comprehensive app stack (e.g., expenses, billing, and payroll).
- Full training for in-house teams on using the new cloud systems and integrations.
Stop worrying about shifting tax deadlines and complex regulations like VIES and Reverse Charge. Our dedicated accounting team is ready to lift the entire burden of compliance, allowing you to focus purely on growth.
FAQ
What is the VAT Information Exchange System (VIES), and why is compliance so critical?
The EU system of checking VAT numbers and reporting of cross-border sales of goods and services is called VIES. Conformity is essential as it is the decisive factor in whether the intra- EU supplies can be legally zero-rated of VAT, keeping your business out of the way of paying hefty fines and back taxes.
How do you assist with complex VAT issues like Place of Supply and Reverse Charge?
Our VAT Advisory is specialized to examine your B2B/B2C, particularly in the case of digital service, e-commerce, and logistics. We properly find the legal Place of Supply and have you properly implement the Reverse Charge mechanism, which keeps your tax liability in the country to minimum levels.
My company is new and trades with the EU. Do I need VIES registration?
Yes. VIES registration is obligatory in case your entity passes VAT registration levels or is involved in delivery of goods or services to VAT-registered customers in other countries of the EU, and to make the legitimate reporting of intra-EU trade. We do the entire onboarding process.
Are your Accounting and Bookkeeping services IFRS-ready?
Absolutely. All of our services are prepared and fully aligned with the International Financial Reporting Standards (IFRS): your monthly books, reconciliations, and year-end processes are in full compliance with the legal requirements in Cyprus.
What is included in the Management Packs for Accounting VAT & VIES you provide?
Our Management Packs are customised reports that are fundamental in strategic decisions. They usually contain monthly performance summaries, powerful cash-flow forecasts, budget vs actual variance analysis and key performance indicator (KPI) dashboard of scale-ups and investors.
How do you support our company during the annual statutory audit?
To make the auditing process to be simple and effective, we take care of the year-end close, produce all the required audit schedules, and foundational lead sheets and serve as the professional liaison to your external auditors.
Can your team help us migrate our accounting from a desktop system to the cloud?
Yes. We provide full systems migration and Cloud Accounting Setups. This entails creating a bespoke Chart-of-Accounts, incorporating expense, billing and payroll applications, and offering complete training to your internal staff.
Who are your ideal clients for these comprehensive services?
We are experts in high-growth organizations, such as Cyprus SMEs, CFEs, tech and holding companies, and startups especially those with complicated multi-jurisdictional compliance or those with ambitious growth plans.