Chelco VAT Ltd was formed in 2012 by two highly accomplished direct and indirect tax professionals with a combined 35 years of experience in the field.

Based in the business capital of Cyprus, Limassol, it is perhaps the only VAT-dedicated service provider on the island. It has founded its success on the fact that it can provide specialised, highly customised and practical VAT solutions to its clients that are based on years of experience, knowledge and expertise in the field.

The firm maintains strong and durable relationships with the island’s key public and private organisations, including the Cyprus VAT authority, as well as professional bodies and decision makers and is frequently consulted on VAT and other industry policy-making decisions.

Chelco VAT is now considered one of the foremost authorities on indirect tax matters in Cyprus, a highly sought-after specialisation given the island’s unique position as a stepping stone to Europe, the Middle East, Asia and Africa.

Chelco VAT also works closely with an alliance of similarly indirect tax specialists in jurisdictions around the world, allowing it to offer a wide range of VAT solutions to a local and international clientele.

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Our mission is to offer businesses the support they need to function effectively in this complicated VAT environment, which requires a high level of experience and knowledge.


We consider Social Responsibility as a duty every organization organisation has to perform so as to maintain a balance between the economy and the world we live in. A trade-off always exists between economic development on the one hand, and the welfare of society and the sustainability of our environment on the other. Social and environmental responsibility means sustaining the equilibrium between the two. This responsibility can be passive, by avoiding engaging in socially or environmentally harmful acts, or active, by performing activities that directly advance social and environmental goals.

We strive to demonstrate cultural, communal and environmental sensitivity not because we have to but because we want to.

Alexis Tsielepis

Dear Friends,

I warmly welcome you to Chelco VAT Ltd.

With more and more governments turning towards indirect taxes as a means of revenue at a time when cross-border selling of goods and services is rising, the importance of VAT planning and compliance is now greater than ever.

The environment in which the value added tax system operates in each member state of the European Union is particularly dynamic:

  • major changes to the EU VAT legislation have been passed, and there are many more in the pipeline;
  • there are a number of options afforded to member states in EU VAT legislation resulting in important differences on how VAT works in each member state, which make VAT planning, especially on cross-border transactions, increasingly challenging;
  • the decisions of the European Court of Justice affect interpretation of the legislation, and at the same time create new room in which to maneuver and plan transactions;
  • the decisions of the national courts of each EU Members States form a parallel but separate source of how VAT is applied in that state; and
  • the ways in which each national VAT Authority applies VAT legislation is certainly not uniform across the EU, requiring local knowledge of each state in planning cross-border and international transactions.

It is for this reason that Chelco VAT was created in 2012. It operates as a boutique service provider and specialises in strategic VAT planning and VAT consulting. It is also a leader in the organisation of high-level VAT seminars and workshops.

Our philosophy is simple and straightforward. We follow a client-centric approach, are dedicated to analysing the detail and to meeting deadlines. We are also committed to exceeding expectations. Similarly, our like-minded associates across the EU and beyond have been carefully chosen to reflect our unwavering values.

We are here to help. Our specialised staff are ready to advise on VAT planning and VAT compliance. In addition, our broad network of associates across the EU and beyond means that we can provide customised solutions that are tailored for international businesses.

At Chelco VAT, we believe in going the extra-mile. We like going the extra mile. And our clients like it too.

I look forward to your inquiries and addressing your individual VAT needs and challenges.

Warm regards,

Alexis Tsielepis
Managing Director

Alexis Tsielepis


Alexis C. Tsielepis, BSc, FCA

Managing Director


Alexis graduated from the University of Bristol where he received a Bachelor of Science Degree (First-Class, Hons.) in Economics and Accounting with an emphasis in Continental Europe. He subsequently trained as a Chartered Accountant with PricewaterhouseCoopers (PwC), London.

He is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW) and a member of the Institute of Certified Public Accountants of Cyprus (ICPAC).

He also holds the Expert in European Value Added Tax (VAT) Degree, which he earned with the highest grade ever awarded in the history of the coveted diploma.


Alexis is a dedicated tax specialist. His areas of expertise go beyond the borders of Cyprus’ direct and indirect tax. Over the last ten years, Alexis has been an integral part of multi-jurisdictional teams of advisors on cross-border mergers, acquisitions and reorganisations. He possesses a solid understanding of double-tax treaties, VAT Directives and Trust legislation. Alexis offers a broad scope of knowledge, expertise and experience when advising his clients, who range from multi-national corporations to high-net worth individuals.

Alexis sits on various committees charged with tax matters and has authored a number of tax syllabuses. He also examines and advises reputable international professional bodies on advanced Cyprus taxation. He lectures extensively on VAT, anti-money laundering and Cyprus direct taxation, and has written a number of related articles on matters pertaining to Cyprus and EU tax.


Alexis’ in-depth understanding of the workings of double-tax treaties, his experience and knowledge of the Cyprus local tax legislation and its usages, his detailed comprehension of EU VAT matters and decisions of the European Court of Justice (ECJ), all position him uniquely to give comprehensive and authoritative advice to his clients. Alexis examines in depth the tax planning needs of his clients in order to recommend and formulate the best possible tax effective solutions.

Alexis also structures and administers Cyprus international trusts and currently acts as Trustee in trusts holding assets, situated in a number of jurisdictions, worth billions of Euros. His integrity, experience and results-oriented attitude, make him an indispensable consultant and partner to his clients.


Alexis is responsible for the operations of the Chelco VAT, analysing VAT transactions and advising on all VAT matters. He places tremendous effort in communicating with his clients in order to understand each proposed transaction. He is then responsible to work closely with his VAT internal team, and where required, international associates, in order to propose the optimal solutions.