Best Tax Lawyers in Limassol

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Founded in 2016
English
PETROS YIANNAKAS & ASSOCIATES LLC, based in Limassol, Cyprus, offers a comprehensive range of legal services, specializing in corporate and commercial law, mergers and acquisitions, international tax planning, and shipping law. The firm has extensive experience assisting clients with financial...
NICOLAS EROTOCRITOU & CO LLC
Limassol, Cyprus

Founded in 2020
English
NICOLAS EROTOCRITOU & CO LLC, founded in 2020, is a distinguished law firm based in Limassol, Cyprus. The firm offers tailored solutions for forming, maintaining, and administering Cyprus legal entities and international corporate structures. Specializing in corporate law, tax planning, and...
N. PANAGIDOU LAW OFFICE
Limassol, Cyprus

Founded in 2020
2 people in their team
Greek
English
N. Panagidou Law Office is a modern law office delivering personalised legal services to individuals and businesses. Main areas of specialization are fintech, payment services, regulatory compliance, company formations, corporate and commercial, employment, immigration, real estate, intellectual...

Founded in 2017
English
Hadjiloizou, Hadjinikolaou & Co LLC is a boutique law firm based in Limassol, Cyprus, dedicated to delivering high-quality legal services tailored to each client's unique needs. The firm emphasizes a client-centric approach, ensuring that every individual or entity receives personalized attention...

English
Anastasis Neophytou & Associates LLC, based in Limassol, Cyprus, offers comprehensive legal services across both contentious and non-contentious matters. The firm's practice areas encompass administrative and public law, banking and financial services, corporate and commercial law, immigration law,...
ASC Law Firm

ASC Law Firm

1 hour Free Consultation
Limassol, Cyprus

Founded in 2012
4 people in their team
English
Greek
Polish
ASC Law Firm is a modern full-service commercial law firm which provides a broad spectrum of services - among them, Banking, Immigration, Corporate and Financial Services, Technology and Intellectual Property Law, assisting clients both at national and international level.Our Clientele ranges from...
CPM - Limassol
Limassol, Cyprus

Founded in 1996
English
CPM - Limassol, a division of Cyproman Services Ltd, has been a prominent provider of fiduciary and corporate administration services in Cyprus since its establishment in 1996. The firm offers a comprehensive suite of services, including company registration, corporate administration, secretarial...
L. Papaphilippou & Co LLC
Limassol, Cyprus

Founded in 1963
English
L. Papaphilippou & Co LLC, established in 1963 by Loukis Papaphilippou, has evolved into one of Cyprus's leading international law firms. Through strategic mergers and a commitment to nurturing talent from within, the firm has expanded significantly, now comprising over 70 highly qualified...

Founded in 2011
English
SCORDIS, PAPAPETROU & Co LLC Limassol stands as one of Cyprus' foremost law firms, delivering a comprehensive suite of legal services to a diverse clientele. With decades of experience, the firm has established a strong presence in Limassol, handling complex matters in corporate law, tax law,...
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About Tax Law in Limassol, Cyprus:

Tax law in Limassol, Cyprus, is an integral part of the country's legal system. It governs taxation procedures related to income, corporations, goods and services, and other transactions that occur within the jurisdiction of Limassol. Cyprus generally features a favorable tax climate with low corporate tax rates, and double tax treaties with several countries. However, it is still necessary to understand and comply with the laws to avoid potential legal implications.

Why You May Need a Lawyer:

While the country has a generally favorable tax climate, there can still be complexities and nuances in the law that could require legal guidance. These situations could include preparing, purchasing, or selling a business; dealing with tax disputes or audits; understanding and avoiding double taxation; and complying with international tax laws. It’s quite paramount to seek legal advice from a professional to navigate through these situations successfully. Additionally, lawyers can also be beneficial in presenting options for tax planning and saving.

Local Laws Overview:

Although the tax rates in Cyprus are considered favorable, several critical aspects of local tax laws apply to both residents and non-residents. Considerable points include a 12.5% corporate tax rates for businesses, full exemption on dividend income (under certain conditions), and complete exemption of capital gains tax from the sale of securities. Moreover, Cyprus also has double taxation treaties with over 60 countries, which helps in avoiding the event of a taxpayer being taxed twice for the same income. Nevertheless, the law still involves intricacies which require expert interpretation and application.

Frequently Asked Questions:

Q1. What is the corporate tax rate in Limassol, Cyprus?

The corporate tax rate across Cyprus, including Limassol, is 12.5%.

Q2. Is there a double taxation relief in Cyprus?

Yes, Cyprus has double taxation treaties with more than 60 countries and this relief can be beneficial for taxpayers needing not to pay taxes in two different jurisdictions for the same income.

Q3. What is withholding tax?

In Cyprus, withholding tax applies to only a certain kind of payments like royalty payments made to non-residents. There are no withholding taxes on payments for interest or dividends.

Q4. Are there any situations where capital gains tax is payable?

Yes, despite having numerous exemptions, certain situations require payment of capital gains tax, including the sale of immovable property located in Cyprus.

Q5. How can one take advantage of the favorable tax climate in Cyprus?

It is best to seek advice from a qualified lawyer or tax adviser who can guide you through tax planning and compliance in accordance with the specific conditions and requirements of your case.

Additional Resources:

The Department of Taxation of the Republic of Cyprus provides extensive resources on its website. The Cyprus Bar Association is another resource that provides a list of professional lawyers who specialize in tax law. Publications from the International Tax Review might also be beneficial for tax-related updates in Cyprus. Conversing with a local legal expert on tax law is highly recommended.

Next Steps:

If you need legal assistance in tax, the first step is to find a lawyer with expertise in Cyprus tax law. Preparing all your financial documents and understanding your rights and obligations under the law are crucial. Finally, setting up a meeting with your lawyer to discuss your circumstances, potential legal issues, and planning a course of action can lead to the best possible resolution.

Lawzana helps you find the best lawyers and law firms in Limassol through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Tax, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Limassol, Cyprus - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.