EY is a market leader in Cyprus, with a major tax department based in two offices, Nicosia and Limassol. Philippos Raptopoulos, the practice's head of tax, is assisted by partners Charalambos Palaontas, Petros Krasaris, George Liasis and approximately 100 tax specialists. The department offers comprehensive advice and compliance services in a variety of sectors, including international tax, technology, transactions, indirect tax, people advisory and transfer pricing.

The firm recently played a key role in assisting a major group with the preparation of transfer pricing documentation and income tax computations and returns in a timely manner, in order to support the client's application for the re-domiciliation of the tax residency of 24 Cypriot companies. The team also functioned as the VAT advisor for a well-known fintech business that chose Cyprus as the base of its cryptocurrency trading operations, in order to advise and execute novel solutions that had not previously been tried in cryptocurrency operations.

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