‘Tax Consultant /Adviser, Tax Consulting/Advisory‘, as a profession/professional activity/service, is not regulated in the Republic of Cyprus and, therefore, a specific licence does not exist for this particular activity. Hence, no procedure information is provided on the subject through the PSC Cyprus, neither for “Establishment of Business” purposes nor for the “Occasional and Temporary Cross-Border Provision of Services”.
For members of the Institute of Certified Public Accountants (ICPAC)
It is noted that, according to the Regulations and Procedures of the Institute of Certified Public Accountants of Cyprus (ICPAC), the following are defined as “Public Practice” of the accounting and audit profession and are binding for the members of the Institute. This means that, registered members of the ICPAC can provide tax advisory services as part of their practice; general practising of the accounting profession. However, and as previously mentioned, non-members can provide tax advisory services also (not accounting and/or audit services, tax advisory services only).
“Public Practice” means:
- Accepting an appointment as an auditor; and / or
- signing or producing any accounts or report or certificate or tax return concerning any person’s financial affairs, whether an individual sole-trader, a company or a firm, in circumstances where reliance is likely to be placed on such accounts or report or certificate or tax return by any other person (the ‘third party’), or doing any other thing which may lead the third party to believe that the accounts or report or certificate or tax return concerning the financial affairs of such a person have been prepared, approved or reviewed by the practitioner; and/or
- holding oneself or itself out, or allowing oneself or itself to be held out, as being available to undertake the activities referred to in (1) and (2) above (and allowing oneself to be known as a, or a firm of ‘Certified Public Accountant(s)’, ‘Accountant(s)’, or ‘Statutory Auditor(s)’ or any similar description or designation standing for any such description in the context of the practitioner’s business shall be regarded as an example of such a holding out); and/or
- holding oneself out, or allowing oneself to be held out, as a sole proprietor, partner or director of a firm, where public practice is carried on;
- provision of any of the following services constitutes public practice of the accounting profession:
- Tax planning and provision of tax advice;
- Business Advice;
- Administrative services, as defined by the relevant legislation;
- Trustee services, as defined by the relevant legislation;
- Insolvency Services, as defined by the relevant legislation;
- Investment Fund management, as defined by the relevant legislation.