PKF Savvides & Co Limassol

Audit work is built on more than processes and reporting standards.

It requires consistency, professional judgement and a clear understanding of the business behind the numbers.

At PKF, we believe an audit should do more than meet requirements. It should support clarity, strengthen confidence and help businesses move forward with greater certainty.

At PKF Savvides, we’re proud to be part of a global network that celebrates growth, connection, and collaboration. This vibrant energy from the PKF family reminds us that together, we grow stronger and thrive as one.

At PKF, our approach has always been shaped by people.

By understanding businesses closely, communicating clearly and remaining hands-on throughout the process.

“Right size. Right people. Right answers.” is more than a motto. It reflects the way we work every day.

The submission of the 2025 Individual Income Tax Return has commenced through the TAXISnet system.

Individuals with gross income exceeding €19,500 during 2025 may be required to submit an Individual Income Tax Return.

The deadline for both the submission of the return and the payment of any tax due is 31 October 2026. Late submissions are subject to a €150 administrative penalty.

Read our latest Tax Alert for an overview of the filing requirements and key deadlines.

For further guidance, feel free to contact our tax team.

As international tax frameworks continue to evolve, the focus is clearly shifting.

“Tax is no longer just about structure, it’s about substance,” notes Nicholas Stavrinides, Tax Partner at PKF Savvides & Co.

With increasing transparency and regulatory scrutiny across jurisdictions, businesses are expected to demonstrate real economic presence and ensure that their structures align with actual operations.

This shift is being driven by global developments, as tax authorities place greater emphasis on consistency, documentation, and the ability to support positions under closer examination.

In this environment, tax is no longer approached as a standalone function.
It becomes part of a broader strategic conversation, one that connects structuring, compliance, and long-term business planning.

A perspective shaped through years of experience in international tax and evolving regulatory landscapes.

The Council of Ministers has extended the deadline for the submission of the 2025 Individual Income Tax Return, as well as the payment of any tax due, to 31 October 2026.

The extension applies to individuals who are neither self-employed nor required to prepare audited or reviewed financial statements.

Find our latest Tax Alert on our website for a summary of the key points and what this means for taxpayers.

Should you require any assistance, our tax team is here to help.

Regulatory authorities are increasingly shifting towards data-driven supervision.

Structured reporting, digital submissions, and standardised formats are reshaping how information is collected, analysed, and assessed.

For businesses, this means one thing:
accuracy, consistency, and timeliness are more critical than ever.

In a data-driven environment, information needs to be accurate, consistent, and able to stand up to scrutiny.

Cyprus continues to position itself as a strategic hub for international business.

At the same time, the landscape is changing. Across the EU, expectations around transparency, substance and compliance are becoming more demanding.

For businesses, setting up is only the first step. Operating effectively now requires a clearer understanding of governance, reporting and cross-border requirements.

This shift is also reflected in the wider discussion across international markets and regulatory updates.

For many organisations, the focus is gradually moving from where they are established to how they operate.

In a complex business environment, decisions are rarely straightforward.

Whether it’s evaluating an investment, planning a merger, or assessing future viability, businesses are often required to make critical choices based on incomplete or evolving information.

This is where structured analysis and independent perspective become essential, not just to interpret data, but to understand its implications.

From valuations and due diligence to feasibility assessments, the focus is always the same: bringing clarity to decisions that matter.