ΠΕΡΙΓΡΑΦΗ

The purpose of this program is to provide a thorough understanding of the essential concepts and principles of VAT and how the VAT operates both internationally and locally with the use of practical examples.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

After the seminar, participants will be able to:

• Enhance their knowledge practicability in relation to the operation of the VAT system and its effect in their company operations;
• Appreciate key areas of impact in business transactions;
• Gain a positive attitude towards the VAT treatment of simple transactions;
• Adopt new practices in transaction analysis that will lead the participants to correct VAT treatment;
• Be encouraged to keep up to date with VAT developments.

The offered Professional Training Course has been approved by the Human Resources Development Authority of Cyprus (HRDA).

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

• professionals involved in preparation of accounting records;
• professionals involved in preparation of VAT and VIES Forms;
• professionals involved in processing sales or purchase invoices;
• professionals involved in reviewing business contracts;

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

PART A:

•  Basic Definitions
  Principles of VAT / The five questions
• Taxable person
• Economic activity
• Taxable Supplies
• Exempt supplies
• Outside the scope supplies
  

PART B: 

VAT Registration

• Compulsory
• Voluntary

PART C: 

• VAT Deregistration
• Compulsory
• Voluntary
• Practical Questions

PART D:

• Transfer of a business as a Going Concern (TOGC)

PART E:

 Recoverability of Input VAT

• Deductible and non-deductible VAT
• Pre-registration input VAT
• Practical Questions

PART F:

•  VAT Assessments & Objections

PART G:

• VAT compliance
• VAT Returns
• VAT Refunds
• Correction of Errors
• Discounts
• Bad Debt Relief
• Gifts
• Penalties

PART H:

•  Tax point -Timing of Supply

PART I:

•  Supply of Goods
• Acquisition
• Imports
• Dispatches
• Exports
• Triangulation

PART J:

•  Supply of Services

PART K:

• Receipt of Services -Reverse Charge Mechanism (RC)
• How the mechanism works
• When the mechanism is applied
• Practical Examples

Trainer

Mrs Demetra Constantinou, FCCA, ADIT

Kinanis LLC, Partner

Demetra Constantinou holds a BSc in Public & Business Administration. In 2009 she obtained her professional qualification of ACCA and since then her professional development escalated by adding further professional qualifications in her curriculum as follows;

Chartered Institute of Taxation, Advanced Diploma in International Taxation (ADIT) – Specialization in EU VAT, CySEC's Advanced Certificate in Financial Services Legal Framework.

Demetra commenced her career in 2006 at Kinanis LLC and has walked her way towards partnership through various managerial and strategic roles. Currently, she is a Partner at Kinanis LLC and manages the Accounting and VAT Department. Her main area of practice is Accounting and VAT consultancy for local and international clientele, as well as General Tax Advisory Services for EU based clients on various EU tax matters relating to VAT Law, Blockchain consulting services on Tax and VAT aspects.

Demetra has extensive experience in rendering lectures on Paper P6: Advanced Taxation of the ACCA qualification and other seminars on VAT topics. She has also been a guest speaker in a number of internal and external seminars and conferences on her topics of expertise. In January 2019 she obtained her professional qualification as Certified HRDA Trainer of Vocational Training.