A common question by new Cypriot companies is what information should be included in an invoice – particularly an invoice with VAT.
The EU has agreed a single set of basic EU-wide invoicing rules (Articles 217-240 of the VAT Directive). As a general rule, our advice to businesses is to follow these EU minimum requirements when issuing invoices.
A tax ruling is a formal response from the Cyprus tax authorities to a tax-related question.
Essentially it is clarification of how the tax laws will be applied in the specific (future) circumstances of a taxpayer.
THE IMPLICATIONS OF VIES RULES FOR CYPRIOT BUSINESSES * This article was updated to reflect 2024 tax rules. This article is relevant for the tax year ending 31 December 2024. VAT treatment when a Cyprus company sells to other EU… Read MoreVIES Cyprus: A Simple, Straightforward Guide
Do you have a company in Cyprus? Are you unsure if you should register with VAT or not? Below is an easy to understand guide of key Cyprus VAT rules. * This article was updated to reflect 2023 tax rules.… Read MoreCyprus VAT – An Easy to Understand Guide
5 STRONG ADVANTAGES OF OUTSOURCING ACCOUNTING, TAX AND PAYROLL FUNCTIONS INSTEAD OF HIRING IN-HOUSE We are frequently asked by our clients – especially small to medium size businesses – to advise on the benefits of hiring an accountant inhouse (either full or… Read More5 Convincing Reasons to Outsource Your Accounting
* This article was updated to reflect 2024 tax rules. This article is relevant for the tax year ending 31 December 2024. ADVANTAGES OF OPERATING A BUSINESS IN CYPRUS AS SELF-EMPLOYED, COMPARED TO REGISTERING A COMPANY. The two most common… Read MoreCompany or Self-Employed?
* This article was updated to reflect 2024 tax rules. This article is relevant for the tax year ending 31 December 2024. MAIN TYPES OF TAXES FOR THE SELF-EMPLOYED IN CYPRUS If you are self-employed in Cyprus, there are 3… Read MoreTaxes for the Self-Employed in Cyprus
