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World Tax Reviews


Deloitte’s tax team in Cyprus provides full tax services and Pieris Markou leads the tax team. He specialises in domestic and international tax, tax planning and litigation, where he represents clients before the Cypriot courts. 

The firm advised AML Malls Holding on its debt and equity restructuring of a shopping mall. The tax team assisted the client in the conversion of the loans into redeemable preference shares and recommended the exchange of shares and mergers for simplifying the group structure and optimising tax.


Eurofast Taxand, a dedicated tax advisory, offers full tax legal services and specialises in tax planning, indirect tax, transfer pricing and international trusts. Christodoulos Damianou is the director leading the practice, and specialises in international tax structure, real estate structuring and tax planning. It is a member Eurofast Global, a regional business advisory organisation with local advisers across 21 countries, with 15-60 advisers in each office. Eurofast Taxand has more than 30 years in the business.

The team prepared tax analysis on taxes on interest loans for a client. It concluded that the relevant transactions would be considered back-to-back loan financing, which means a transfer pricing study would be required. This analysis allowed the client to understand the tax exposure and to make informed choices.


The EMEIA Tax Center at EY is organised as a supranational entity covering the entire Europe, Middle East, India and Africa (EMEIA) region, with its Intercompany Effectiveness and operational transfer pricing practice serving clients’ needs across all jurisdictions.

Led by Oslo-based partner Sveinung Baumann-Larsen, it brings together multi-disciplinary experience and resources focused on IT, accounting, and tax from the entire region in its work. This work covers some of the leading global companies in their respective fields and includes those involved in retail and consumer products, energy and pharmaceuticals, to name but a few.


Taxatelier is an independent tax advisory created in 2014 by former big four tax practitioners. It is led by managing partner Neofytos Neofytou alongside partners Costas Savva, Christos Theophilou and Demis Ioannou. Neofytou has more than 30 years of experience specialising in international tax planning.  Savva has more than 20 years’ experience advising on corporate tax and VAT matters. Theopilou has more than 15 years advising on corporate tax, EU law and private equity. Ioannou has more than 10 years advising in corporate tax and transfer pricing. It focuses its service on individual taxation, corporate tax, international tax, VAT and transfer pricing.

The tax team assisted a Cypriot registered company on its claim for deduction in fees paid to the overseas branch for its services. This avoided paying double tax on the margin left by the branch. It also liaised with the Cypriot tax authority for the positive tax ruling.