Services

STRATEGIC VAT ADVICE

Planning Is Everything: Three words that encapsulate the essence of what we strive to achieve. Yet given the complexities of VAT and the ever-changing dynamic environment that regulates this tax, VAT planning is seldom a simple task. Ensuring the maximum reclaim of input VAT is essential for any business to remain competitive.

We understand this.

We work closely with our clients, with their associates, and with our network of professionals, and propose solutions and develop strategies that will benefit our clients. We also work hard to research Cyprus common law as well as ECJ case law and advise our clients or their professional consultants in defending against aggressive VAT practices from VAT Authorities. Whether your business is just starting up, or whether you are already established in several countries, the need to undertake VAT planning is of paramount importance.

We are here to help.

We aim to be more than just your trusted professional advisors. We aim to be an integral part of your business.

  • Development of VAT planning strategies
  • Internal VAT audits of businesses, identifying weaknesses and proposing solutions
  • VAT opinions on proposed business ventures or specific transactions
  • VAT opinions on assessments raised by the Cyprus Tax Department as well as those in other Member States
  • Expert support with regards to VAT recourse through the Cyprus courts and the European Court of Justice
  • Coordination of, or participation in the advisory team regarding, VAT audits at national and European level
  • In-house VAT seminars and training courses for companies and organisations, with the option of funding from the Human Resource Development Authority of Cyprus (ΑΝΑD)
  • Ongoing advice on changes in VAT legislation and other VAT-related matters
  • Ongoing advice on changes in VAT legislation and other VAT-related matters

SPECIALISED VAT REVIEW

Many jurisdictions have developed specialised schemes that could translate into important VAT savings. In addition, certain VAT services require a degree of specialisation.

We consider ourselves as being at the forefront of VAT specialised services in Cyprus.

  • VAT advice concerning cross-border transactions
  • VAT advice concerning interpretation of EU law
  • Registration and Advice on the use of the One Stop Shop (OSS) and the Import One Stop Shop (IOSS)
  • Filing of VAT refunds in Cyprus and the other EU Member States
  • VAT representation services in Cyprus

VAT COMPLIANCE

VAT compliance is often overlooked by businesses. We make no such mistake. We consider the subject of compliance to be of the utmost importance, not solely because of the high penalties imposed in general across the EU for non-compliance, but also because we appreciate how important compliance is in the general context of our clients’ business.

The compliance process doubles as a check on the correct and efficient application of VAT legislation. Our specialised compliance staff have been trained to look at the detail behind the transactions and highlight any areas that warrant further analysis or discussion. The purpose is to constantly monitor whether there is further scope for VAT planning, whilst ensuring that the business is VAT compliant.

This is part of going the extra mile.

  • Registration / Deregistration with Cyprus VAT authorities as well as with the VAT authorities in other EU Member States
  • Group registration with Cyprus VAT authorities and other EU Member States
  • Preparation and filing of VAT returns in Cyprus and in other EU Member States
  • Registration, preparation and submission of VIES declarations
  • Monitoring of transactions to ascertain whether scope exists for further VAT planning
  • Negotiations with national and international VAT Authorities

SEMINARS & WORKSHOPS

The educational arm of Chelco VAT Ltd, the Chelco VAT International Academy, has been delivering high-end educational events since 2016.

The academy is the result of years of training, followed by months of planning and preparation to offer VAT-dedicated knowledge to VAT advisors, VAT Officers working in tax administration, professionals in the industry that deal with VAT matters as well as to anyone who wishes to broaden and further sharpen their understanding of VAT.

Topics that are addressed by the Chelco VAT International Academy cover the VAT aspects of specific areas of legislation and specific types of transactions or specific industries, offering attendees an unprecedented level of comprehension and specialisation on the subject matters.

Each seminar or workshop provides a detailed explanation of each VAT topic with reference, where appropriate, to the EU legislation and relevant ECJ judgments. Numerous examples are used to ensure the fullest comprehension of the subject matter. The seminar handouts, which include the presentations, court decisions and much more, can be used as an invaluable future reference tool for each topic presented.

In 2021 the Academy launched a first-of-its-kind in Cyprus expert diploma in VAT called the Diploma in VAT Excellence (DiVE), a high-level course spanning a period of 10-months, with emphasis on the Cyprus VAT legislation.