Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more
TAX ADVISORY: ENSURING LEGAL BUSINESS OPERATIONS

TAX ADVISORY: ENSURING LEGAL BUSINESS OPERATIONS

SCROLL

CPV STORIES

A client approached CPV Audit due to an overstated tax liability report submitted by his prior tax advisor.


The company was providing a software programs for royalties and license fees, allowing its clients to legally and efficiently use their products. Further examination of the client's documentation revealed that its products were subject to the intellectual property tax regime, which in the case of the client allows for an approximately 80% reduction of the taxable profits derived from the company's operations. Apparently, the prior tax advisor didn't reach this conclusion and, instead of implementing the above regulation, treated the business as taxable under the standard tax regulations, resulting in a client's high tax liability.
TAX ADVISORY: ENSURING LEGAL BUSINESS OPERATIONS
It is important for any enterprise to have an experienced and qualified tax advisor to ensure that business operations are legal and that tax liabilities are kept to a minimum.

HOW WE HELPED

The CPV Audit team of tax professionals discovered a miscalculation and estimated the tax liability amount using the IP regime indicated above.


This reduced the client's taxable income by almost 80%.  Following that, we advised a client to inform auditors that the company is subject to IP tax.
TAX ADVISORY: ENSURING LEGAL BUSINESS OPERATIONS

PUBLICATIONS

IP Tax Regime
Intellectual Property. IP Tax Regime
CY as Fin.Center
Cyprus as Financial Center
NID
Notional Interest Deduction (NID)
Taxation Treaty
RU-CY Double Taxation Treaty
Audit Webinar
WEBINAR ON CORPORATION & INTERNAL TAX
Tax 2020
CPV Audit Tax Facts 2020
Tax 2021
CPV Audit Tax Facts 2021
NEED HELP WITH YOUR ACCOUNTING OR FINANCIALS?