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Dear ,
You are
welcome to read our February's edition of our e-newsletter. This month's
edition offers a glimpse of what's new in relation to Legal, Financial and Tax issues
on our website along with some articles that we hope you will find interesting. Our
aim is to keep you informed about the latest developments relating to
Legal and Tax issues that primarily take place in Cyprus in relation with
the EU legislation. In particular, we would like to draw your attention
to our SEPA and CFC articles below.
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International Trading through Cyprus - |
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USA |
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China |
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BVI |
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Cyprus |
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EU |
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50€ |
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100€ |
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150€ |
Goods are shipped
form China with destination either the EU or
the USA having a Cyprus trading company as an
intermediary.
Let us review the following example with the addition of
a intermediary BVI company. The Chinese company sells
goods to the BVI company for e.g. 50€ and the BVI company sells
them to the Cyprus company for
100€. The goods are then sold from the Cyprus company to
the EU or USA for 150€. Therefore, in Cyprus we have a
50€
profit taxed at 10% resulting in a 5€
corporate income tax. Overall, we
have tax 5€ for 100€ profit since the BVI company
resulting in 5% total tax. Note that trading within the EU
countries requires VAT registration. The current
Cyprus VAT rate is 15%. For
further
information please
contact us. |
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Corporate or Tax professionals are kindly invited to
subscribe in our Member's Area. You will have access
to useful and constructive information in
different areas of Cyprus Laws, articles as well as
Taxation and Tax Structures with various countries.
Click here
and
you will receive the access details shortly.....The
member
area has been recently revamped and we are still
adding material. Hence, we suggest to
revisit regularly. |
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- February News - |
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Areas of main practice:
| Incorporations of Companies | International Tax Planning
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Mergers and Acquisitions | Funds | Trusts | Litigation | Ships Registration | Real
Estate | |
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137 Gladstonos
Str
Lemesos 3032 CYPRUS
Tel:+357 25 820 540
Fax:+357 25 745 743
www.theocharides.com
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The
information contained in this newsletter is
for reference purposes only, and is provided by our firm as a complimentary
service. Many sources were used in compiling this information including
marketing materials, articles, speeches, studies,
newspapers, laws, structures etc. Due diligence must be exercised and additional research
should be conducted before acting on any opinions. George Theocharides Law
Office does not warrant the accuracy or reliability of any information made
available herein.
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