VIES Registration

1. VAT & VIES Registration Guidance: Our experts are well-versed in the VAT registration process and can guide you through the complexities of registering for VAT in the relevant EU member states. We help you understand the specific requirements, documentation, and procedures involved, ensuring that you meet all the necessary criteria for VAT registration.
2. Documentation Preparation: We assist you in preparing all the required documentation for VAT registration, including completing application forms, gathering relevant financial information, and providing supporting documents. Our attention to detail and knowledge of the registration process help ensure that your application is accurate, complete, and submitted on time.
3. Compliance Assessment: Before initiating the VAT registration process, we conduct a comprehensive compliance assessment to determine if your business meets all the necessary requirements. This assessment helps identify any potential compliance gaps and allows us to address them proactively, minimizing the risk of delays or complications during the registration process.
4. Application Submission: Once all the necessary documentation is prepared and compliance requirements are met, we handle the submission of your VAT registration application to the respective tax authorities. Our team ensures that your application is submitted accurately and in a timely manner, saving you the hassle and ensuring a smooth registration process.
5. Ongoing Support: Our commitment to your business extends beyond the registration process. We provide ongoing support, answering any questions or concerns you may have regarding VAT compliance. We stay up to date with changes in VAT legislation and inform you of any updates that may impact your business.

VIES declarations must be submitted electronically through the Cyprus Tax Department’s online portal monthly by the 15th day of the month following the reporting period.

If the 15th falls during a weekend or public holiday, the VIES return can be submitted on the next working day.

Penalties for Non-Compliance:

Failure to comply with VIES reporting obligations can result in penalties, such as:

• Late submission of VIES declarations: A penalty of €51 for each late declaration
• Inaccurate or incomplete VIES declarations: a continuing failure to submit VIES returns is a criminal offense, punishable by a fine of up to €850.
• VIES Correction of declaration : €15.

By choosing IBCCS Tax for your VIES registration needs, you can rely on our expertise and experience to navigate the complexities of VAT compliance seamlessly. We understand that each business is unique, and our personalized approach ensures that your VAT registration is tailored to your specific requirements.