Julia Vints

This article describes some of the most frequent and pressing issues raised by a taxpaying controlling person, when calculating the profits of a controlled foreign company.

Tax profit can be fundamentally different from accounting profit. In this article, we will consider situations that are not so obvious but occur quite often, like when a company incorporated in Cyprus has differences between accounting profit and tax profit.

In preparation of financial statements in accordance with IFRS (International Financial Reporting Standards) for 2018, all companies faced with a new financial instrument accounting standard IFRS 9. Financial instruments have traditionally [...]