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Cyprus corporate tax at 10 % |
Anonymous
Posted on: 11/01/2010
Posted at: 13:19:25
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for a consulting company getting fees of distribution and advisory how far can this 10 % be lowered? in other terms, how far can we use the interest paid to the parent offshore company (re any eventual thin capitalisation rule)? how far can people deduct consulting fee to offshore companies (not the shareholders) to the Cyprus company to lower taxable profit to nil-1/2%. How is the practice?
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Freemont Group
Posted on: 11/01/2010
Posted at: 21:09:33
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The corporate tax can be diminished to as low as 0.5 - 0.7%. Please email us at info@freemontgroup.com for more information.
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A Hilton
Posted on: 12/01/2010
Posted at: 19:10:05
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In practice, anything running via Cyprus is under immediate scrutiny, since Cyprus has a bad image now due to heavy abuse of some individuals. But as previously said, your details are to generic to give you some decent advice.
For advice visit www.verduntech.com/de/malta/uk or email me at alexander.hilton@verdungroup.com
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Anonymous
Posted on: 16/01/2010
Posted at: 14:59:58
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Cyprus is in the EU as Malta, I do ask advice here to a Malta or to a Cyprus expert? what s count is the rules and the practice, not "the image".
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Anonymous
Posted on: 09/03/2010
Posted at: 15:25:36
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hello, I am a Lawyer that is just having his internship with a Cypriot fiscal consulting company. In order to answer properly I need some other datas. Eg doeas this company operates abroad ?
Please refer to eugen.diaconu@gmail.com
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Advisor - Turner Little
Posted on: 11/03/2010
Posted at: 11:26:19
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There is an ability to reduce corporation tax to zero using a Cyprus entity where certain factors are present. Please feel free to contact us to discuss the options available to you, either by email to enquiries@turnerlittle.com or via our web site at www.turnerlittle.com
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Anonymous
Posted on: 07/02/2011
Posted at: 20:26:59
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I think you are pushing the bar too far. You may be able to invoice some reasonable amounts, but getting the tax down to 0, in my opinion, not really a good option.
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Anonymous
Posted on: 14/03/2011
Posted at: 16:53:08
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Frankly, the thin cap rule is not strictly followed in Cyprus and much of the international companies took and continue to take good advantage of it, i.e by reducing their pre-tax income with deductible related party interest (interest, which de facto is dividend distribution). In some countries the tax authority are quite strict, for instance in Russia, where there is a max on the thin cap of 3:1 or 12.5:1 (for banks and insurance companies) with the interest over and above the max being disallowed and perceived as dividend.
Bare in mind that you need to think and plan a holistic approach so that you have your feet on the ground. Consider also, non-tax matters and the companies within your Group.
On your second remark, there is no limit of the amount of consulting fees paid to offshore companies as long it is well backed with evidence that services were actually received. In no case you can entirely depend on such scheme, for the burden of proof will be on you and it is very likely that the Cyprus Inland Revenue will dispute this expense if it is excessive.
If you have any further questions, feel free to visit our website www.qnta.biz or post you questions on our Facebook, LinkedIn page or Group "Cyprus Tax".
Dimiter
Quantia Advisors
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