In addition to the administrative aspects of having Singapore companies which we discussed in the previous article, it is also necessary to pay attention to their tax obligations in Singapore. Singapore has Goods and Service Tax (GST). In other countries analogue of GST is VAT (see VAT in Europe).
In Cyprus, a separate department in the tax authority is responsible for the administration of VAT. To register for VAT, the company or its representative must personally come to the VAT department office in the city of its registration and provide the following documents:
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