Tax & Accounting Services in Cyprus

Why Choose Philippou Law as Your Tax Accountant in Cyprus

Philippou Law Firm combines legal expertise with professional accounting services, offering a distinct advantage over standalone accounting firms in Cyprus. Our team of qualified accountants and tax advisors works alongside corporate lawyers, ensuring that every tax decision is informed by a thorough understanding of both the regulatory landscape and your broader business objectives.

As a full-service firm, we handle everything from day-to-day bookkeeping and VAT returns to complex international tax structuring, all under one roof. This integrated approach means fewer handoffs, faster turnarounds, and consistent advice across all areas of your business in Cyprus.

Tax and Accounting Services for Companies

Tax residence determines whether worldwide income is within Cyprus corporate income tax. Assurance, VAT, and payroll duties depend on the company's size, status, registrations, and activities. Our accounting services identify the obligations that actually apply:

• Corporate tax computation and filing, preparation and electronic submission of form TD4 under the Tax Department's year-specific deadline, including provisional tax assessments where applicable.
• VAT registration and compliance, registration with the Tax Department, quarterly VAT return preparation, and management of input/output VAT across standard (19%) and reduced rates.
• Statutory audit coordination, we prepare your financial statements and coordinate with certified external auditors (the firm does not perform audits itself) to ensure compliance with International Financial Reporting Standards (IFRS) and timely filing with the Registrar of Companies.
• Bookkeeping and payroll, daily transaction recording, bank reconciliations, salary calculations, social insurance, PAYE, and GHS contribution processing.
• Annual returns, preparation and filing of the annual return (form HE32) with the Registrar of Companies.

Learn more about our accounting and audit services for companies.

Tax Advisory Services for Individuals

Cyprus offers one of the most attractive personal tax regimes in Europe, with a generous €22,000 tax-free threshold and progressive rates up to 35%. Our individual tax services help you take full advantage of the available exemptions and reliefs:

• Personal income tax returns, accurate preparation and filing of annual tax declarations.
• Tax residency structuring, advice on the 183-day and 60-day tax residency rules to establish the most beneficial residence status.
• Non-domicile (non-dom) advisory, analysis of domicile and deemed-domicile rules and the associated Special Defence Contribution treatment of dividends and passive interest. Rental income is no longer subject to Special Defence Contribution from 2026, irrespective of non-dom status, while GHS and other taxes require separate analysis.
• Employment tax exemptions, structuring to benefit from the 50% exemption for high earners and the 20% exemption for new residents taking up employment in Cyprus.

Learn more about our personal tax services and the Cyprus non-dom regime.

International Tax Planning

Cyprus has signed over 65 double taxation treaties, making it a strategic base for international tax planning. Combined with the 15% corporate tax rate and EU membership, Cyprus offers significant advantages for cross-border business structures. Our international tax advisory covers:

• Double taxation treaty planning, structuring operations to benefit from reduced withholding tax rates on dividends, interest, and royalties.
• IP Box regime, leveraging the Cyprus intellectual property regime for an effective tax rate as low as 3% on qualifying IP profits, fully compliant with the OECD modified nexus approach.
• Holding company structures, establishing Cyprus holding companies to benefit from participation exemptions on dividend income and capital gains from the disposal of shares.
• Transfer pricing documentation, preparing transfer pricing studies and documentation in accordance with OECD guidelines and Cyprus transfer pricing rules.

Learn more about the Cyprus IP Box regime.