Audit and assurance
For DMK audit and assurance is more than just a statutory requirement. Our aim is not just to provide an audit opinion. We constantly look for areas of risk which could be dealt with in order to minimise the exposure of our clients’ companies and at the same time ensuring compliance with the various regulations in Cyprus.
Our audit and assurance services include:
Assistance in the preparation of stand-alone or consolidated financial statements following the International Financial Reporting Standards (IFRSs)
Audit of the financial statements based on the International Standards of Auditing (ISAs)
Special purpose audits
Evaluation of internal controls
Book keeping and accounting
The availability of correct and timely accounting information may be essential either for monitoring a company’s activities or for deciding on the payment of dividend or for any other purposes.
DMK can assist by providing the below services:ow services:
Maintenance of proper books and accounting records
Preparation of management accounts according to clients’ request
Training courses for staff of companies
Payroll services
Preparation and submission of VAT returns (quarterly)
Preparation and submission of VIES forms (monthly)
Corporate Taxation
The main reason for international investors choosing Cyprus as a platform for their international investments is taxation. DMK ensures that through our top quality service will result to fully benefiting from the advantages of the Cyprus tax regime and achieve tax optimisation.
Our services in respect to taxation include the following:
Tax advisory including local and international tax planning
Obtaining tax rulings
Agreement of Company’s tax affairs with the Cyprus tax authorities
Tax compliance
- Audit of tax for identifying areas of tax risks, analysing those and communicating them to the management
- Assistance for submitting the relevant tax returns
- Assistance for making tax payments when needed
- Registration with the Cyprus tax authorities for obtaining the relevant Tax Identification Code (TIC)
- Assistance for obtaining tax certificates
VAT
The need of efficient VAT planning and compliance has increased significantly. DMK can assist with the following:
VAT planning
VAT registration with the Cyprus VAT authorities
Liaising with the Cyprus VAT authorities on behalf of our clients
VAT compliance
Cyprus Tax Regime
10% corporation tax only
Dividends are usually exempt from taxation
Gains from trading in titles are exempt from taxation
Profits of a Permanent Establishment abroad are usually exempt from Cyprus taxation
No withholding tax imposed in Cyprus on payments of interest, dividends and in most cases of royalties (tax free repatriation)
Accessibility to an extensive network of Double Tax Treaties and the EU Directives
Advance interpretations of the tax law may be provided by the Cyprus tax authorities (tax rulings)