ACCOUNTING SUPPORT FOR A BUSINESS (FIRM) IN CYPRUS

Accounting outsourcing of companies in Cyprus is the best option for business owners. The cost of such accounting support is much less than keeping your own accountant.

The legislation of Cyprus sets requirements for accounting and tax reporting. Thus, every person conducting business must keep proper books and records in accordance with established International Standards, submit annual tax returns and complete other documents required by law.

Accounting support for activities in Cyprus

In order to properly submit all tax and financial statements, in accordance with EU law, a large number of companies registered in Cyprus use the services of accountants who are not part of the company’s staff.

Accounting firm in Cyprus, what are the benefits of working with it? External accounting services in Cyprus have many advantages, and the main advantage is that, in case of incorrect reporting or calculation of payments, payment at their own expense of all fines imposed by the supervisory authority.

A Ukrainian-speaking or Russian-speaking accountant in Cyprus, particularly in Kyrenia, Larnaca, Limassol, and Nicosia, is our advantage over other accounting firms. Consulting on accounting in Cyprus in Ukrainian or Russian, will simplify the understanding between you and the accountant, will make more accessible to you an understanding of the legislation of Cyprus in the field of accounting and taxes.

Accounting in Cyprus

As Cyprus is a member of the EU, EU legislation sets strict requirements for accounting and tax accounting.
To do this, sole proprietors are required to keep books of income and expenses. In the same way, companies must carry full accounting.

In Cyprus, as in most countries, there are three possible options for accounting.

• When the director or sole proprietor independently keeps accounts. In this case, there are almost no advantages, but there are many disadvantages, including insufficient time to do business directly, making mistakes in case of omission of novelties in the legislation of Cyprus and the EU.
• When there is an individual who is employed as an accountant and carries out his activities in the firm. In this case, the person easily fulfills its obligations to the firm, fulfilling its direct duty of accounting at a particular firm – this is an obvious advantage.

However, there are disadvantages, it is quite a high salary for the maintenance of such an accountant, which reaches about 1 thousand euros per month, and in some cases may be more. Also, if the accountant does not go to work, you need to look for a replacement, it involves additional costs. One chief accountant and several ordinary accountants are often hired, which involves significant maintenance costs.

• Accounting support (outsourcing) of business in Cyprus

There will be no disadvantages if you turn to really professionals who guarantee their activities.

Among the advantages we should pay attention to the following – we have a large number of accountants of various specializations, and therefore we guarantee the performance of work at the highest level, low cost of service compared to others, answers to any of your questions that may arise in accounting . Our specialists have a high level of knowledge in many types of business.

If in more detail about the last point, we provide the services of an accountant in Cyprus, in particular

• Accountant in Kyrenia
• Accountant in Larnaca
• Accountant in Limassol
• Accountant in Nicosia

Accountant services in Cyprus include:

• Accounting services for enterprises of all organizational and legal forms
• Accounting and tax audit of a firm (business) in Cyprus
• Preparation and submission of declarations and reports to tax and controlling bodies
• Representation of a lawyer and accountant in the tax authorities of Cyprus
• CIT, PIT, ZUS, VAT (VAT), PFRON, NBP, GUS, declarations – preparation, verification and submission to regulatory authorities.
• Personnel accounting, accrual of PA, payment of relevant taxes for employees, submission of personnel reports
• Import-export operations (WDT, WNT)
• Preparation of invoices and bills
• Making bank payments
• Analysis of the financial condition of the enterprise

Accounting services in Cyprus – one of the main activities of Prykhodko and partners, because we are aware of EU and Cypriot legislation in the field of taxation and financing, and therefore clearly understand how the tax system of Cyprus works and help choose the best tax system for your business. for each client we have an individual approach, which depends on the direction of your activity, the organizational and legal form of the legal entity.