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Privacy and Data Protection
Our digital risk team is made up of a combination of subject matter experts and technical specialists who can help your business comply with the GDPR.
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Governance, Risk and Compliance (GRC)
While business goals and strategies evolve, our services support you wherever you are in your business cycle. The digital economy is simultaneously increasing the magnitude of new business opportunities while increasing the difficulty of getting it right.
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ISO 27001 and ISO 27701
Grant Thornton’s ISO 27001 and ISO 27701 specialists will arrange and oversee the formal audit process.
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SOC 1,2,3
As a service organization there are many ways to provide assurance to your customers and in turn other stakeholders over your control environment. One of the most effective and cost-efficient ways is to issue a Service Organization Control (SOC) Report.
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Incident Response
Grant Thornton’s Cyber Incident Response Team can support your business in the event of a cyberattack or data loss event. We work alongside your existing IT and Legal teams to provide a co-ordinated, timely and efficient investigation and remediation.
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Hacking Services
At Grant Thornton, our cyber security experts can develop a bespoke penetration testing plan to meet your business needs and unique IT environment. We can undertake the full suite of testing or conduct individual assessments, as required.
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Cyber Health Check
Approximately 54% of organizations report that they have experienced at least one cyber-attack during the past year. Grant Thornton’s cyber health check provides you with an objective, jargon-free assessment of your current cyber security, drawing on both qualitative and quantitative elements.
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Dark Web Threat Intelligence
We use a variety of dark and deep web monitoring tools that continuously scans illegal sites to discover any mention of your data, ranging from breached security credentials such as usernames and passwords to leaked confidential documents of your company.
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Digital forensics and electronic discovery
We offer a full suite of digital forensics and data acquisition services in investigations related to cybercrime, disputes, fraud and regulatory investigations.
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Insolvency
If you're facing a time of personal or corporate financial crisis you need advice from someone who listens, who understands your specific issues and deals with them in a supportive and sensitive manner.
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Crisis stabilisation and turnaround
In periods of financial distress, management teams often face considerable challenges, with many directors having little or no experience of similar conditions.
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Operational and financial restructuring
Companies challenged by underperformance often need support in identifying options for financial or operational restructuring. Tapping this type of advice helps them create a stable platform for business turnaround.
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Accelerated M & A
Even fundamentally sound businesses run into difficulties. Cash flow can come under pressure from the loss of a big client, or a dip in performance can threaten a breach of banking covenants if there is insufficient headroom.
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Indirect Tax
Our experienced VAT specialists are available to assist companies and entrepreneurs of all industries and sizes in meeting their obligations.
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Direct Tax
We can help you ensure a bespoke balance between tax compliance and effective tax planning for your special circumstances.
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Life at Grant Thornton
At Grant Thornton Cyprus, we are taking a holistic approach and reimagining the way we work, continually assessing it and making necessary changes to better support our people.
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In the community
Unlocking the potential for growth in our local communities.
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Diversity and inclusion
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton Cyprus is the opportunity to work on cross-border projects all over the world.
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Learning and development
At Grant Thornton we believe learning and development opportunities allow you to perform at your best every day.
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Our values
We are a values-driven organisation and we have more than 56,000 people in over 140 countries who are passionately committed to these values.
BREXIT VAT and Customs implications
20 Feb 2020On 3/2/2020 the Cyprus Tax Department issued a series of announcements in relation to Brexit and its impact on the application of the EU VAT refunds procedure, VIES, MOSS and Intrastat reporting.
The United Kingdom (UK) as of 1st February 2020 has exited the EU following ratification of the Withdrawal Agreement which provides for a transitional period.
All transactions with the UK during the transitional period will continue to be regulated as if the UK remains a Member State of the European Union. The transitional period will apply from 1/2/2020 until 31/12/2020.
VIES
As a result of the above, the VIES Recapitulative Statement will include intra-community supplies of goods and services to VAT registered persons established in the UK occurring during the transitional period. Supplies of goods and services to the UK occurring after the transitional period (1/1/2021) will no longer be regarded as intra-community supplies and will not be declared in the Recapitulative Statements.
Intrastat and on-going movements of goods
Similarly, dispatches and acquisitions of goods occurring during the transitional period will continue to be declared in the Intrastat declarations. The exports and/or imports of goods to and from the UK after the transitional period (1/1/2021) will not constitute intra-community dispatches or acquisitions and will no longer be declared in the Intrastat declarations.
Goods dispatched from the UK and acquired by consumers who normally reside in the Republic will be subject to customs clearance, including the imposition of importation VAT on their taxable value. A movement of goods whereby the dispatch or transport from the UK to the Republic begins before the date of withdrawal from the EU and is not completed before 1/1/2021, at the time of arrival in the Republic will be considered as an importation into the Republic.
MOSS
Services supplied by taxable persons established in the Republic to non-taxable persons normally residing in the UK which fall within the scope of the Mini One Stop Shop (Moss) during the transitional period, will continue to be declared on MOSS declarations. As of 1/1/2021 these transactions will be deemed to be supplied in the recipient country (UK) without posing an obligation to account for VAT in the Republic.
VAT refund for VAT incurred in the UK on business expenditure
The announcement provides information relating to applications by taxable persons established in the Republic for a VAT refund on expenses inured in the UK. For VAT incurred in the UK during the year 2019 the request should be submitted by September 30th, 2020. For the period from 1/1/2020-31/1/2020 the application may be submitted at any date within the period between 1/4/2020 and 31/12/2020. The application by a taxable person resident in the Republic, for a refund of VAT incurred in the UK during the period between 1/2/2020 and 31/12/2020, should be submitted pursuant to the provisions of the 13th VAT Directive (Directive 86/560/EEC).
The above are subject to amendments resulting from presently unforeseen developments during the negotiation process and further updates from the Cyprus Tax Authorities cannot therefore be excluded.