Cyprus offers some of the greatest tax advantages to foreign investors seeking to open companies in an EU member state. From low corporate taxes to special regimes for certain types of legal entities, Cyprus attracts an impressive number of international enterprisers and simple foreign citizens every year. However, there are situations in which disputes over taxation matters appear and without a thorough understanding of the country’s taxation system one could find it hard to resolve these issues. In order to help foreign entrepreneurs our Cypriot law firm has gathered experienced attorneys to provide legal counseling in taxation litigations.
All litigation cases, including tax disputes are usually handled by the Cypriot courts of justice. The duration of a trial in a tax litigation is not predetermined as the first step is to go through preliminary hearings followed by submission of evidence from each part. However, most of the situations involve claims against the Cypriot tax authorities.
The most common tax disputes in Cyprus occur in the corporate area and refer to:
For assistance in any litigation matters you can refer to our attorneys in Cyprus.
As mentioned above, one of the ways to resolve tax litigation is by appealing to the courts of justice. However, Cyprus is a very modern country which is why it has implemented other alternative dispute resolution methods in order to help individuals and legal entities. These are mediation and arbitration. Among the two, arbitration is now one of the most popular and successful ways of dealing with tax disputes. Cyprus has its own arbitration court. Resolution of tax disputes by the Cypriot Arbitration Court is cheaper and faster which is why it is preferred mostly by companies.
If you need more information about the Cypriot taxation system and the legal issues you could encounter when opening a company in this country, you can contact our local law firm. Our lawyers in Cyprus can also help you set up a company here.
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