Best Tax Lawyers in Limassol

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E & G Economides LLC
Limassol, Cyprus

English
E & G Economides LLC is a full-service law firm based in Limassol, Cyprus, offering a comprehensive range of legal services. The firm specializes in corporate and commercial law, mergers and acquisitions, banking and finance, and capital markets. Additionally, it provides expertise in litigation,...
Limassol, Cyprus

Founded in 2013
English
Established in October 2013, Marangos & Hadjipapa LLC is a boutique law firm in Cyprus, renowned for its innovative approach and comprehensive legal services. The firm serves a diverse clientele, including financial institutions, banks, international corporate groups, and individuals. Led by...
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...
Harneys Cyprus
Limassol, Cyprus

Founded in 2009
English
Harneys Cyprus is a distinguished law firm renowned for its expertise in corporate law, investment funds, financial services regulation, and litigation. The firm has consistently achieved top-tier rankings, maintaining Tier 1 status in Banking & Finance and Commercial, Corporate, and M&A practices,...

Founded in 1981
40 people in their team
English
Chrysostomides is one of Cyprus's most established law firms, offering comprehensive legal services across a broad spectrum of practice areas. With decades of proven experience, the firm is known for its deep expertise in corporate law, banking and finance, dispute resolution, and commercial...

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...
Limassol, Cyprus

Founded in 1966
English
C.P. Erotocritou & Co LLC, established in 1966 by Mr. Costas Erotocritou, is a prominent law firm in Cyprus with offices in Limassol and Nicosia. The firm offers a comprehensive range of legal services, including company formation, shipping law, energy, corporate and commercial law, banking and...
Chambers & Co

Chambers & Co

1 hour Free Consultation
Limassol, Cyprus

Founded in 1996
8 people in their team
English
Greek
Chambers & Co  has grown rapidly since its inception in 1996 and is now one of the leading international law firms in Cyprus.The Firm’s policy is to deliver expert legal services in an environment that encourages professionalism, confidence and trust. We have built a...

Founded in 2015
English
Charalambos Constandinou & Co. LLC, established in 2015, is a distinguished law firm based in Limassol, Cyprus. The firm offers comprehensive legal services across various sectors, including corporate and commercial law, banking and finance, real estate, immigration, and intellectual property. With...

Founded in 2023
English
Eleftheriou & Eleftheriou LLC, established in 2023 by partners Lefteris D. Eleftheriou and Georgia D. Eleftheriou, is a boutique law firm based in Limassol, Cyprus. The firm offers a comprehensive range of legal services, including litigation and alternative dispute resolution, corporate and...
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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.