What is the Most Effective and Direct Way to Reduce Your Tax Liability? Read below to find out. Author: Kyriacos Socratous, BA, ACA Founder and Managing Director One of the most popular reasons that clients turn to an accounting firm is to help them reduce the amount of tax they’re paying in their business. Taxes eat at [...]
Choosing the right accountant for your company 8 points to consider in choosing your accounting partner! Author: Kyriacos Socratous, BA, ACA Founder and Managing Director Choosing the Right Accountant for Your Company When it’s finally time to pass the accounting baton off to an expert, how do you choose which professional is right for your business? Choosing [...]
Is it time to incorporate your business? Self-Employed Vs Having a Company - Pros & Cons you should know about. Author: Kyriacos Socratous, BA, ACA Founder and Managing Director Perhaps the most common question raised by sole-traders or any other person taking their first steps into the business ownership era is whether they should incorporate their business [...]
Cyprus Tax Calendar 2022 Add to Outlook or view online Tax payers are sometimes unaware or not sufficiently prepared to meet their tax deadlines, including submissions/declarations or payments to the tax department. In addition, following the Covid-19 pandemic various extensions were granted by the tax department to assist tax payer in meeting their tax obligations in time. These extensions were missed or [...]
How is the pension calculated in Cyprus? All you need to know to estimate your pension on retirement. One of the most common queries we receive from Cyprus taxpayers, who contribute to the social insurance fund, is to explain the process on how their retirement pension will be calculated based on their social insurance contributions. The statutory pension to be received on [...]
Cyprus Income Tax Calculator Simple - Quick - Easy Easy to use and accurate income tax calculator to quickly estimate your Income Tax, Social Insurance and GESY contributions. Our income tax calculator quickly calculates your net salary, income tax, social insurances and GHS (GESY) contribution per year. It is so simple, you only need to enter your monthly/annual gross salary, specify the tax year [...]
Cyprus Tax Calendar 2021 Add to Outlook or view online Tax payers are sometimes unaware or not sufficiently prepared to meet their tax deadlines, including submissions/declarations or payments to the tax department. Tax payers can use our handy tax calendar to be informed and plan ahead to meet their upcoming tax deadlines. View our Tax Calendar online or add it to your [...]
Easily calculate your Cyprus Dividend Taxes Using our Dividend Tax calculator Our dividend tax calculator quickly calculates the defence and GHS (GESY) contribution. Moreover, our calculator takes into account your tax residency, country of domicile and other GHS contributions to correctly calculate your dividend taxes. It is so simple, you only need to enter your gross dividends, select the dividend distribution period and the rest is done automatically. Click to Access Our calculator [...]
Download our Quarter 3 2020 – Tax UpdateThis version of our tax update covers the following areas: Upcoming tax deadlines and how we can assist you 1st provisional tax payment for 2020 Employers return for 2019 Final self assessment for 2019 List of resources and calculators to assist with your daily business and tax requirement
2nd Self Assessment 2019 Temporary Tax Assessments Taxpayers must submit their temporary tax return before the 31st of July of each year based on their estimated current year’s taxable income and pay the corresponding temporary tax. The temporary tax payments must be made on the estimated current year profit in two equal installments, on 31st July and 31st December. The estimated taxable income declared under self assessments can be revised (upwards/downwards) any time prior to 31st of [...]
