Accounting and booking 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.
Our team of experienced accounting professionals can provide the full range of accounting and bookkeeping services to meet the specific requirements of any business.
Our primary aim is to provide our clients with the highest-quality services, while at all times maintaining our professional and business ethical standards and striving to add extra value to the offered services and solutions.
According to the laws of the Republic of Cyprus every Cypriot company is required to keep a record of its accounting and book-keeping that must fairly and fully reflect the state of affairs of the company.
Books and records should be updated within four (4) months from the date of each and any transaction and the records should be saved for a period of at least six (6) years.
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 further issues.
Every employee in Cyprus is compulsorily insured under the Social Insurance Scheme.
The compulsory insurance falls into two categories: employees 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.
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.