At the request of a big 4 company based abroad, we proceeded with a direct tax due diligence on two Cyprus company’s’ activities involved with investing 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 company’ financial statements for the years 2018- 2021 to identify any significant tax risks, to summarize and comment on disclosed material intra-group or other non-arm’s length trading arrangements, to analyze the tax deductibility of expenses including the loan interest expense and to comment on possible tax risks that might arise in the future.