Globally, governments are increasingly imposing indirect taxes. Since several years, businesses have been witnessing the importance of indirect taxation as governments have embraced the shift from direct to indirect taxation. Within the European Union, many governments have significantly increased their VAT rates over the past few years to offset cuts in direct taxation and shortfalls in social security contributions in an attempt to balance overstretched budgets.
As a result, businesses that do not successfully manage their indirect tax position face the risk that their profitability decreases, that their cash flow requirements increase and that their compliance risks become critical.
For organisations looking to manage and mitigate their indirect taxes (VAT, customs and excise duties, stamp duty), PwC provides a range of innovative solutions developed by the largest indirect tax team in Cyprus. Our approach to indirect tax combines consultative relationship building, with the latest technology, to deliver only relevant and value-adding solutions.
Our mission extends well beyond the mere responding to questions raised by clients or to assessing their day to day problems. It encompasses the proactive addressing of new economic developments, with the aim of advising on issues that entrepreneurs may face in an increasingly global marketplace.
PwC has an extensive global network of indirect tax professionals who are actively connected. Experts meet regularly to share their technical issues, solutions and experiences. Our network has strong bonds with tax authorities and policy makers, including the European Commission.
We can support your business and add value if your objective is to:
Partner - In charge of Tax Reporting & Strategy
Theo C Parperis
Partner, Head of Tax & Legal Services, PwC Cyprus