ACCOUNTING, VAT AND
PAYROLL

Cyprus as a member of EU, adopted the International Financial Reporting Standards (IFRSs) for the financial accounting and reporting. At ACHILLEAS PAFIOS & CO we provide Cyprus entities with unparalleled quality Accounting and VAT services to comply with the IFRSs.

Companies that operate with intercommunity transactions and/or international services, should be always alert not only of the local legislation but also the EU VAT legislation as amended.

ACHILLEAS PAFIOS & CO has the expertise, technical knowledge and know-how to help all entities that require high quality and dedicated accounting advice and service. ACHILLEAS PAFIOS & CO operates a separate Accounting/VAT department led by VAT and IFRS specialists who can provide advice and technical guidance to all of its clients.

Our goal is to provide value for money services to all of our clients and dedicated solutions that exceed expectations. Our solutions are tailor-made to each particular case, issue and need of the particular company and we provide continuous support.

Accounting / VAT services:

• VAT preparation on monthly or quarterly basis
• VAT registration / deregistration
• Assistance with the selection of appropriate accounting policies
• Design of accounting procedures and processes
• Accounting guidance and structuring
• Accounting advice
• VAT advice
• EU VAT advice
• Preparation of periodical management reports
• Analysis of financial information
• Preparation of consolidated financial statement
• Safeguarding and organising your accounting records
• Submission of VAT returns to the Authorities
• VAT investigations 

Payroll services

ACHILLEAS PAFIOS & CO can be appointed as a reliable payroll service provider offering dedicated payroll services in line with the current Social Insurance legislation.

ACHILLEAS PAFIOS & CO has extensive experience in the operation of the payroll function and a track record of delivering accurate cost effective web-based payroll services. All our services are strictly confidential and reliable.

Payroll services:

• Social Insurance registration / deregistration
• Preparation of weekly or monthly payroll
• Preparation of Social Insurance and other levies
• Submission of SI returns to the Authorities
• Submission of PAYE to the Authorities
• Issuance and maintenance of electronic payslips and payroll reports
• Preparation of Employer’s Return
• Preparation of Employee’s Annual Statement
• Payroll investigations