Accounting and bookkeeping may seem a simple process, however, if no proper books and records are kept, your business may suffer adverse implications.
If you are considering to outsource your accounting and bookkeeping, our team is glad to assure you that all accounting entries will be made in compliance with Cyprus Companies Law, International Financial Reporting Standards and International Standards of Auditing.
The Accounting & Bookkeeping services include the following:
VAT compliance is often a complex affair, especially when doing business in countries with different rules and regulations. Depending on the nature and extent of your business, many issues may arise during the VAT process.
Our experienced team takes care of your VAT processes and gladly helps you address any further issues.
Value Added Tax(VAT)
The VAT services include the following:
VAT Information Exchange System (VIES)
VIES declarations are required for the supplies of goods and services between EU Member States.
VIES statements must be submitted electronically through the TaxisNet system by the 15th of every month, for the previous month.
The VIES services include the following:
Our Payroll Services are becoming more and more in-demand as companies seek to outsource payroll functions due to the confidential nature of the work involved.
Whether you pay weekly, monthly, or otherwise, we will help you deal with your payroll quickly, effectively and at a competitive price.
The Payroll services include the following:
Every employee in Cyprus is compulsorily insured under the Social Insurance Scheme.
The compulsory insurance falls into two categories: employed and self-employed.
Employers pay their contributions (including the employee’s share), by the end of the calendar month which follows the month for which contributions are due. For example, for May 2019 contributions must be paid by the 30th of June 2019.
Self-employed persons pay their contributions quarterly within one month and ten days from the end of each quarter. For example, January-March 2019 contributions must be paid by 10th of May 2019.
The Social Insurance services include the following:
From 1 January 2015, supplies of telecommunications, broadcasting and electronically supplied services made by EU suppliers to private individuals and non-business customers will be taxable in the Member State of the customer.
Mini One-Stop-Shop (MOSS)
MOSS is a scheme to allow taxable persons supplying telecommunications, broadcasting and electronic services to non-taxable persons, in Member States of the European Union in which they do not have an establishment, to account for the VAT due on those sales, via a web-portal in the Member State in which they are identified.
The MOSS services include the following:
In January 1993, frontier controls on the movement of goods between EU member states were abolished and importers and exporters in EU trade no longer were required to complete customs documentation.
Therefore, in order to fill the gap that was created concerning the collection of statistics information, the EU introduced a system known as INTRASTAT.
The system was designed to ensure that statistics of internal EU trade could be collected in a way which would maintain the quality of the statistics and the timeliness of their collection.