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The tax practice of Baker Tilly Klitou has expanded this year, with the number of fee-earners increasing to 150. Therapon Mafkas oversees the firm's three offices and is one of nine partners. The bulk of the firm's work comes from tax planning and compliance ... [more]

The tax practice of Baker Tilly Klitou has expanded this year, with the number of fee-earners increasing to 150. Therapon Mafkas oversees the firm's three offices and is one of nine partners.

The bulk of the firm's work comes from tax planning and compliance work. A sizeable proportion also comes from VAT and transfer pricing. The group represents its clients in mostly cross-border matters. They are able to operate across a number of different jurisdictions because of the Baker Tilly International network, though most work tends to come from those countries where Cyprus has double tax treaties such as Russia, Poland or the Ukraine.

Last year Baker Tilly Klitou worked on the restructuring of a Greek food group. The practice worked on the merger of 40 different Cypriot companies. The practice also represented a US-based group operating in the entertainment industry on their purchase of an aircraft in the Isle of Man and managed to achieve this without any VAT leakage.