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  • Ίδρυση Εταιρείας / Φορολογία
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Send Enquires
  • Login
CyAuSe - Cyprus Audit Services Ltd
  • Home
  • Reduce Taxation
    • Find the Right Jurisdiction
    • Select Vehicle / Company Type
    • Are You a High Net Worth Individual?
    • Tax Free Income
    • Cyprus Tax Tips
      • Cyprus Tax Calculators
        • Cyprus Corporation Tax
        • Cyprus VAT
        • Cyprus Gross to Net Salary
        • Cyprus Dividend Tax
        • Cyprus Social Insurance
        • Cyprus Capital Gains Tax
      • Cyprus Property Owners
      • Cyprus Company Owners
      • Cyprus VAT Related Tips
      • Cyprus Employed Persons
      • Cyprus Self Employed Persons
    • Cyprus Double Tax Treaty Network
    • Cyprus Crypto Tax
    • Cyprus NHS / GESY
  • Incorporation
    • Middle East Company Formation
      • Dubai Companies
      • Qatar Companies
      • Saudi Arabia Companies
    • Create an International Company
      • Cyprus
        • Cyprus as a Business Centre
        • Head Quarter Relocation
        • Cyprus Company Maintenance
        • Cyprus Bank Account
        • Cyprus Company Creation
        • Cyprus Company Tax Benefits
        • Cyprus Double Tax Treaty Network
        • Payroll System
        • Useful Information
        • Popular Cyprus Structures
        • Cyprus Start Up Information
        • Cyprus Remote Employer
      • Seychelles Companies
      • BVIs (British Virgin Island)
      • Ireland
      • Bahamas
      • Malta
      • Isle of man
      • Gibraltar
      • Cayman Island
      • United Kingdom
      • Rest of the world
    • Create an International Trust
    • Create an Investment Firm
    • Cyprus Start Up Information
      • Company vs Self Employed
      • Company Issues
      • Funding Solutions
      • Accounting Issues
      • Start Up Tips
    • Buy Ready / Shelf Companies
  • Bank Accounts
  • Services
    • Company Services
      • Company Audit
      • Internal Audit
      • Re-Domiciliation Services
      • Executive Services
      • Accounting services
      • Outsource Payroll
      • Outsource Vat & Tax
      • Final Accounts
      • Management Accounts
      • Cash Flow
      • Business Plans & Feasibility Studies
      • Fiduciary & Support
      • Substance Solutions
      • Compliance Services
      • Marketing
        • Branding
        • Email Marketing
        • Lead Generation
        • Social Media Marketing & Advertising
        • Pricelist
    • Individual Services
      • Personal Taxation
      • Capital Statement
      • Succession Planning
      • Family office services
      • High Net Worth Individuals
    • Bank Account Set Up
    • Niche Markets
      • International Business Companies
      • Services Sector
      • Cyprus Forex and Investment Firms (CIFs)
        • Specialised services
        • Best Practises
        • CySEC Glossary
        • Cyprus Investment Firms and Funds Articles
      • Travel Sector
      • Real Estate & Construction
      • Retail and Consumer
      • Funding Programmes
        • Open - Expected Programs
        • EU Cyprus Programs
          • Youth Entrepreneurship Programs
        • Cyprus Personnel Funding Solutions
      • High Net Worth Individuals
    • Company Formation
  • Knowledge Hub
    • Blog
    • Articles
    • Announcements / Cyprus News
    • Client Enquiries
    • Video Tutorials
      • Tax & VAT Tips
      • Relocating to Cyprus
      • Our Mobile Application
      • Audit Guidance
      • Cyprus Company Related
    • FAQs - Corporate Cyprus
    • Interviews
    • Download Section
      • Tax Download Section
    • Publications
  • Relocate to Cyprus
    • Cyprus Immigration - EU Nationals
    • Cyprus Immigration - Non EU Nationals
    • HeadQuartering Solutions - Cyprus
    • Cyprus Immigration - FAQs
  • Funding
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    • ANAD
    • Individuals
    • Tourism
  • Licensing
    • Insurance Licensing
      • Insurance Brokers License
      • Insurance Agents License
      • Agent and Broker Differences
      • Cyprus Insurance Taxes
      • Cyprus Insurance FAQs
    • Cyprus Investment Firms (CIFs)
      • Educational Videos on Regulated Markets
    • Cyprus Funds
    • Download Section
  • Ίδρυση Εταιρείας / Φορολογία
    • ΔΗΜΙΟΥΡΓΙΑ ΚΥΠΡΙΑΚΗΣ ΕΤΑΙΡΕΙΑΣ
      • Σύσταση Κυπριακής Εταιρείας Πληροφορίες
      • Σημαντικές πληροφορίες για τις Κυπριακές Εταιρείες
      • Επιχειρηματικές Οντότητες Κύπρος
      • Χορηγίες / Επιδοτήσεις
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    • ΔΗΜΙΟΥΡΓΙΑ ΕΠΕΝΔΥΤΙΚΗΣ ΕΤΑΙΡΕΙΑΣ
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  • About Us
    • Why CYAUSE?
    • Memberships
    • Our Clients
      • International Clients
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        • Russian market
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          • Διαδικασία Ίδρυσης Κυπριακών Εταιρειών
        • Israel market
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    • Our fees
      • Full Package
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    • Contact us
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Travel Sector

Home / Services / Niche Markets / Travel Sector
  • Company Services
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    • Marketing
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      • Lead Generation
      • Social Media Marketing & Advertising
      • Pricelist
  • Individual Services
    • Personal Taxation
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    • Succession Planning
    • Family office services
    • High Net Worth Individuals
  • Bank Account Set Up
  • Niche Markets
    • International Business Companies
    • Services Sector
    • Cyprus Forex and Investment Firms (CIFs)
      • Specialised services
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    • Travel Sector
    • Real Estate & Construction
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    • Funding Programmes
      • Open - Expected Programs
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        • Youth Entrepreneurship Programs
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    • High Net Worth Individuals
  • Company Formation

Travel Sector

The travel sector industry is undeniably one of the most demanding and complicated sectors due to the complexity of the events, different application of the VAT treatment as well as the frequency of reporting to group parent company or even the shareholders of the organisation.

Through its extensive experience, CYAUSE Audit Services Ltd offers the following services to this sector;

  • VAT Services (monthly and quarterly)
  • Monthly Accounting Segmental Reporting
  • Advisory Services on Tax and Internal Controls of the Company
  • Accountancy Services
  • Statutory Audit Services.

At CYAUSE Audit Services Ltd we place great emphasis on the latest VAT and TAX developments in this sector which are constantly evolving following the European Union Directives providing therefore the more recent and relevant advisory services to our clients.

Over the last years we have managed to secure tens of thousands of Euro in lost VAT money due to wrong application of the VAT rules within the Eurozone.

Challenges facing the travel sector

  • Volume of accounting records is cumbersome, hence setting up the accounting function correctly is of primary essence
  • Accounting records must be processed on monthly basis for group reporting purposes, hence speed and accuracy of an essence
  • VAT application as TOMS (Travel Operators Margin Scheme) EU directive is not followed by all EU members
  • Payroll reconciliations especially if the tour operator operates in various countries

Our Expertise

Obtained several VAT rulings for Liberty International regarding the  TOMS application in Cyprus and other jurisdictions which are not applying the EU Directive 709/5 TOMS (Travel Operators Margin Scheme) saving tens of thousands in VAT for our clients in the industry.

SPECIALISED SERVICES

  • VAT rulings for the local VAT application
  • Software selection for accounting function
  • Accounting function design to meet clients specific operational and reporting needs
  • Monthly management account preparation
  • Monthly management accounts reporting to the group
  • Liaison with overseas accountants, lawyers and VAT experts
  • Review of overseas branch results
  • Overseas Payroll Reconciliations
  • Cyprus Forex and Investment Firms (CIFs)
  • Real Estate & Construction

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