The latest CYSTAT figures show tourist arrivals for the year 2026 up to April down 27.6% compared to the same period in 2025. The regional instability in the Middle East has directly affected nearby markets especially Israel, which dropped by 74.8% while our traditionally primary market, UK, saw a decrease of 21.8%. Further to the…
An efficient audit does not start when the audit team arrives. It starts months earlier, with preparation, planning and clarity over what will be required, and when. Many audit overruns are not driven by technical complexity or regulatory change. They arise because audits begin before the underlying building blocks are in place. Here, we set…
How world events are flowing into financial statements Geopolitical developments, trade policy shifts and structural changes in energy demand are no longer background noise. Even where an entity has no direct exposure to a specific country, contract or supply route, the secondary and tertiary effects of global events are now filtering rapidly into financial results…
In today’s rapidly evolving business environment, companies face an increasing range of challenges—from financial management to regulatory compliance, competitive pressures, and the need for strategic growth. In such a complex landscape, accounting services have become a vital part of every business operation. No longer are accounting professionals simply tasked with managing the books; their role…
Transfer pricing rules are built around a simple principle: transactions between related parties should be priced as if they were carried out between independent companies. In practice, however, applying this principle is not always straightforward — particularly in smaller economies such as Cyprus. Since the introduction of formal transfer pricing documentation requirements in 2022, Cypriot…
We are pleased to bring you Issue 35 of Tax Refresher, our bi-monthly newsletter designed specifically for large corporate and international businesses, which aims to keep you updated on the latest developments and challenges in the global tax landscape. In this issue of Tax Refresher, you will find the below insights: Feature: Public Country-by-Country Reporting…
For decades, the professional services sector has been one of the defining pillars of the Cypriot economy. Legal, tax, audit, corporate administration, fiduciary and advisory services have not merely supported business activity — they have been integral to Cyprus’ international business model and its position as a regional hub for investment and cross-border structuring. Today,…
Succession planning in Cyprus was always a hot topic, especially in recent years. It was always a critical concern in Cyprus mainly due to the island’s strong culture of family-owned businesses and closely held corporate structures. As we transitioned into the next phase, the implementation process became both increasingly engaging and more challenging. The traditional…
Public Country-by-Country Reporting (CbCR) is an EU-led initiative designed to increase tax transparency by requiring multinational enterprise (MNE) groups to publicly disclose key financial and tax-related information on a country-by-country basis. Who Does It Apply To? Under EU Directive 2021/2101, the public CbCR rules generally apply to MNE groups with consolidated global revenues exceeding €750 million…
