Corporate Tax

For any business owner or financial manager, it is vital that you receive up to the minute taxation advice that reflects and boosts the current and future status of your business entity.  In this increasingly regulated global business environment, staying abreast of any information or reforms that help us to help you is an essential role of Hassapis & Co.  

Whether you are a one man band or large company, our experienced team works closely with clients to ensure tax efficiency.  Our well versed business taxation expertise covers a wide range of topics, designed specifically to help you no matter the size of your business.   

Hassapis & Co, can advise and assist you in planning for: 

·                    International Taxes

·                    Indirect taxes, including VAT and PAYE

·                    Direct taxes, including tax returns and corporation tax planning

·                    Remuneration and benefits planning

CORPORATION TAX

EXEMPTIONS FROM TAX
- 50% of interest income
- Dividend income
- Profits from the disposal of shares
- Profits from a permanent establishment abroad (with certain conditions)

INTERNATIONAL BUSINESS COMPANIES (IBC)
International Business Companies that were active during the tax year 2001 have the option to choose to continue to be taxed at the rate of  4.25% for the years 2003,2004 and 2005.

TAX INCENTIVES
- Loses incurred during the tax year 1997 and thereafter are transferable to be set off against profits of future years without limits.
- Mergers, acquisitions and company restructurings are allowed without any tax consequences*
- Group relief of losses with profits incurred in the same tax year*

*With certain restrictions

CAPITAL ALLOWANCES