At the end of each calendar year all companies are required to produced their financial statements for the year which will have to be audited so that the company tax returns will be submitted to the Cyprus Income Tax Office. This is called the “year end reporting” or the “closing of the books”.
Year-end reporting is a standardised procedure and is something that a firm of chartered or certified auditors and accountants can do for you. Following the completion of the book keeping for the year the audit firm will proceed with the completion of the audit for the year and the submission of the company’s tax return to the Cyprus Income Tax office.
The year-end reporting is considered completed once:
- The Company Audit is being completed
- All Company Taxes are being Paid
- The Company’s Tax Return is Submitted to the Income Tax Office
- The Company’s Audited Financial Statements are submitted to the Cyprus Registrar of Companies (submission of HE32 form).
Our firm can assist you with all the above as well as with:
- Preparation of Annual Statutory Financial Statements under International Financial Reporting Standards (IFRS)
- Preparation of Interim Financial Statements under International Financial Reporting Standards (IFRS)
- Liaising with Company / Group Auditors
- Year End Tax Projections
- Year End KPIs (Key Performance Indicators) and their explanation
- Our Management Letter; a report which summarises all weaknesses identified during the year end proceedings accompanied with recommendations to management on how to mitigate them.