12.20
Tax Advisory & Compliance
TAX DUE DILIGENCE

Our Work

At the request of a foreign branch of Big 4 audit firm, we proceeded with a tax due diligence on five Cyprus companies’ members of the same group involved with holding and financing activities.    

The scope of our work was, among others, to comment on the status of tax filings and payment of taxes, to analyze the companies’ financial statements for the years 2017-2019 to identify any significant tax risks, to summarize and comment on whether the companies had material tax attributes such as tax losses and capital losses and comment on their availability for use in future periods including restrictions arising on a change of ownership, to comment on disclosed material intra-group or other non-arm’s length trading arrangements, to summarize the impact of group tax relief, to analyze any financing arrangements undertaken by the companies, and to comment on any tax planning or optimization strategies which have been undertaken by the companies.