CYPRUS BUSINESS ENVIRONMENT AT A GLANCE INTERNATIONAL FINANCIAL REPORTING STANDARDS
Cyprus company’s should fully comply with the IFR’s
Non consolidation provisions in the local law giving parameters for small group providing exemptions from consolidation;
IFR’s giving a consistent platform of comparing financial statements for further analysis;
Providing to the financial statements an international recognition and credibility.
Requiring very good understanding from the Management and Auditors;
Cyprus maintains and enhances its competitiveness as a reputable international financial center and distinguishes itself from the infamous tax heavens.
Read further advantages for the formation of International Business Companies in the island of Cyprus.