All companies registered in Cyprus are required by Law to prepare audited financial statements that are based on International Financial Reporting Standards. We undertake the preparation of these financial statements as well as separate and consolidated financial statements of holding companies where needed. Our audit work is always based on International Standards on Auditing and our audit work is subject to review by our supervising body, the Institute of Certified Public Accountant in Cyprus.
Our firm can undertake to prepare the bookkeeping for any client by entering the client’s transactions on our computerized bookkeeping software programme. Additionally we can prepare management accounts and financial statements annually but also at intervals requested by clients. We can also recommend to clients, improvements on their current bookkeeping systems and procedures to facilitate better financial reporting.
VAT registration and reporting
We can undertake the registration of the company with the VAT department and the preparation of quarterly or annual VAT declaration forms as well as monthly declarations of VIES and Intrastat VAT forms where required.
Through our local payroll software we undertake the preparation of the payroll from small to large size companies. This includes the registration and deregistration of employees to the Social Insurance Department and the Tax department, computing the relevant contributions and PAYE amounts that need to be made and we can also undertake the payment of such contributions and PAYE deductions where needed. Additionally we can apply and obtain A1 certificates for European employees if required.
We provide full tax services that are related to both Companies and Individuals in Cyprus. This includes the registration and the deregistration to the tax authorities as well as arranging for the yearly submission of the required tax forms and completing and submitting any other tax forms that are required from time to time by each tax payer in Cyprus. We can also advice clients on how to best use the various applicable tax laws for a tax efficient arrangement of their tax affairs.
We undertake the preparation of feasibility studies, budgets and cash flow statements. We also can provide services relating to mergers and acquisitions, review and report on internal control systems and also prepare due diligent reports where needed. For business start-ups we can prepare a complete business plan for submitting to a Bank for rising finance.
We offer a variety of other services that complement our previously stated services including company formation services, company administration, secretarial services, opening of bank account, company strike offs etc.
Athos Kakofengitis BSc (Hons), Econ., FCA
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The information given on this web-page is correct at the time of preparation. The details given are for information only, and we accept no responsibility and/or liability whatsoever to anybody acting on this information.
SCI Kakofengitis & Co. Limited
4 Zinas Kanther Street 3035 Limassol
Telephone: +357 25 340930
Facsimile: +357 25 342484