Tax planning is a key strategic exercise. Its goal is to maximise business profits and preserve and enhance individual wealth. It is an ongoing process.
At ASC we take an integrated approach to tax planning as we recognise that the tax position of a business cannot be divorced from that of its owner and their wider family. Our advice evolves as the needs of our clients change over time or as wealth is passed from generation to generation.
Our advice to a client might consist of international corporate tax planning for their trading or investment group, whilst at the same time providing, at shareholder level, estate planning, income extraction advice and, at the appropriate time, exit planning.
Our seamless service derives from the fact that we have expertise across all business and individual taxes with a focus on providing international solutions, for instance through double tax treaty planning. We work with international partners to ensure we have a truly global reach.
Our tax services include international group structuring and restructuring, residence issues for individuals and companies, inward investment and re-domiciliation planning, estate and succession planning including the use of foundations and trusts, planning for non-domiciled individuals including Cyprus property structuring, VAT and stamp duty planning and dealing with Revenue investigations.
Non-Domiciliary Tax Services
ASC has a long history of advising private clients coming to Cyprus from abroad. As such, many of our clients benefit from the Cyprus’ special tax regime for non-domiciliaries.
Although changes have been made to the system in the last few years, the “non-dom” regime in Cyprus remains very attractive for Cyprus residents domiciled outside Cyprus, by offering the option of being taxed on only Cyprus-source income and gains.
The rules are notoriously complex and there are many traps for the unwary which can create unexpected tax liabilities. To help you make the most of your non-dom status, we offer a full tax advisory service, including:
- Establishing and retaining non-dom status
- Tax-efficient planning of remittances from abroad, including advice on source segregation and remittances from mixed funds
- Devising remuneration packages for inbound executives and employees to take advantage of important tax reliefs and exemptions
- Establishment of trusts to mitigate inheritance, capital gains and income taxes and advising on tax-efficient payments to beneficiaries
- Tax planning for those who are about to become deemed domiciled in Cyprus
- Use of roll-up structures and investments to defer/reduce Cyprus tax liabilities
- Completion and filing of annual tax returns
International VAT Consultancy
VAT has gone from being a simple domestic sales tax to a highly-complex fiscal regime applicable throughout the EU.
The ubiquity of cross-border sales of goods and services means that international VAT issues have become a daily consideration for international businesses. This is not just restricted to cross-border transactions within the EU, but also the import and export of goods to or from the EU. Customs Duties can be an added complexity for such transactions.
We guide businesses through the complex international trading rules and help to find workable solutions to international challenges presented by VAT and customs rules. We also provide VAT registration and compliance services in multiple jurisdictions.
Expatriate/Employment Tax Consulting
We advise employers and their employees on tax strategies for international assignments or those looking to recruit an employee from overseas. We advise in a number of areas, including:
Helping employers to obtain Sponsorship status to enable them to recruit employees from outside the EU
Advising employees on pre-immigration planning and residence issues
Implementing tax equalisation schemes
Tax planning for non-domiciled employees, such as claims for overseas workday relief
Operation of modified payroll schemes for international assignees
Securing exemption tax for foreign employees under Double Tax Agreements
Structuring tax-efficient benefits packages
Nowadays with all the worldwide regulatory legislations being ratified, our firm can provide expert tax advice at both international and domestic level with ultimate purpose tax optimization, in accordance with the relevant law, in order to achieve your business’ targets and objectives.
Our expert staff have worked with the biggest tax and audit organizations and have taken part in numerous drafting of long and complex tax projects. Consequently, our staff can advise clients with regards to cross-border transactions in order to minimize tax implications and avoid unforeseen tax liabilities and hidden costs.
assistance
- Cross-border transactions advice and implementations
- EU VAT - VIES registrations and structures
- Payroll Services
- International Tax Planning
- Tax Risk Assessments
- Re-domiciliations of Companies
- Holding Structures
- Extraction of Profits
- Transfer Pricing Issues
- Setting up of branches (Permanent Establishments)
- Financing structures of company's/group's activities
- Exploitation of Double Tax Treaties
- Tailor-made solutions
