+357 22 777802 [email protected]

Taxation Services

Tax planning is needed at individual, family or business level to find ways to minimize the tax burden. The complexity and the continuous renewal of the tax law cause serious problems which we are ready to face.

A History of Tax

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International Tax Planning

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Taxation Services

Our tax department which is staffed by specialists offer the following services :


  • Preparation and submission of tax returns of companies, partnerships and self-employed.
  • Settlement of disputes against taxation.
  • Preparation of capital statements for directors and shareholders as well as other taxpayers.
  • Tax advices and planning in all tax matters such as Income Tax, Corporate Tax, Estate Tax, Capital Tax and Value Added Tax on local and international companies.
  • This section informs the customers about new changes to legislation through seminars and regular newsletters which are sent.

“PanAudit Konnaris advices and assistances for the creation of effective tax solutions to exploit the potential of tax laws. Is a consultant for tax planning ensuring the best possible outcome.”

A History of Tax

Tax has an extremely long-established history. The ancient Egyptians appointed Tax Masters who increased the burden on the Children of Israel – slaves under Egyptian domination.

As a general rule, tax is the source that is best exploited by government. It is imposed on individuals and companies to finance services that the State is obligated to provide and to meet its goals. On extremely rare occasions, governments have used sources other than tax; for instance, income from natural resources. However, as a general rule, most governments use the collection of taxes as the main tool for financing their expenses.

Tax is divided into two main categories, progressive and regressive taxes.

Progressive tax is graduated and its rate varies according to the taxpayer’s income. Regressive tax is a tax at a fixed rate irrespective of the taxpayer’s income. For example, sales tax is imposed on sales, at a fixed rate, on rich and poor alike. It is regressive in that it is a tax that is proportionally greater on the income of a poor man than that of a rich man.

International Tax Planning

Taxation planning is an important parameter for the success of every business enterprise. Our professionals have considerable experience in international tax planning with emphasis on corporate structuring, investment vehicles, intra-group tax planning and cross-border trading and trade finance transactions. We can advise on the most efficient and suitable structure for a company or group of companies, businesses and individuals. Through an analysis of the activities of the enterprise, its areas of operation and its future goals we can devise a strategy best suited to a client’s needs.

We can assist in communicating and negotiating with Tax Authorities on any matter in Cyprus and in all jurisdictions we serve worldwide. We can prepare and submit tax computations, required tax returns for businesses and individuals, and assist in the proper payment of tax liabilities.

Our professionals, affiliates, and associates have extensive tax and legal experience in corporate and commercial activities. We can assist with the drafting and review of company documents, shareholder agreements, contracts, and due diligence reports. We can advise clients on matters of corporate restructuring, local and cross-border transactions, mergers and acquisitions, financing, receiverships and liquidations and raising of venture capital. We are also experienced in the tax and legal aspects of setting up and administering funds and partnerships.

We can offer advice on asset protection and inheritance and pre-inheritance matters, setting up of trusts and foundations and offer trustee services (limitations may apply).

Through our various expertise groups, affiliates and associates our clients can be offered complete solutions in other areas such as assistance with IPOs, mergers and acquisitions, capital markets, corporate restructurings, litigations support, bank finance, real estate transactions, and advice on inheritance and trust matters.

“For more information please contact us at [email protected] & [email protected]

Contact Us

For more information please contact us at

+357 22 777802

Fax +357 22 771469

25th March Str. no 19, 1st Floor, 2408 Engomi, Nicosia – Cyprus

P.O. Box 25621, 1311 Nicosia – Cyprus

M-F: 8am-5pm, S-S: Closed