ACCOUNTING AND VAT

We offer accounting and vat services for individuals and self-employed for compliance and other purposes. For compliance within the Tax Authorities and for Vat purposes accounting records should be kept for at least 6 years. 

As per the Cyprus Tax law, as self employed with gross turnover more than €70,000 in a tax year, needs to keep accounting records and submit audited accounts. In addition, if your gross turnover does not exceed the limit of €70,000 but exist the limit of €15,600 at any time within the period of 12 months, you have an obligation to register to Vat and keep at a register with your sale invoices for Vat purposes.

We offer the following services:

• Accounting, bookkeeping and Vat services for self-employed with annual gross revenue more than €70,000 (monthly or Quartey)
• Simple bookkeeping and Vat services for Vat compliance for self-employed with annual gross revenue more than €15,600 (note 1) but less than €70,000

Notes:
1. The limit is €15,600 during 12 preceding months and not within the tax year. In addition, if you expect that within the next 30 days you are going to have more than €15,600, you have an obligation to register to Vat in advance.