ΠΕΡΙΓΡΑΦΗ

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

• Explain when a transaction is within the scope of the Cyprus VAT;
• Describe when a person (natural or legal) has an obligation to get registered or deregistered from the VAT register;
• Define the time and place of supply of the transactions of their clientele;
• Recognize when the Input VAT is reimbursable and when not;
• Explain when the Input VAT is reimbursable and when not;

• Identify whether a person (natural or legal) exercises economic activity;
• Correctly calculate the VAT payable on each transaction;
• Correctly assess the VAT recoverability of a taxable person;
• Analyze simple and complex transactions;
• Apply the correct VAT treatment of transactions;
• Acknowledge and apply VAT requirements.

• Appreciate key areas of impact in business transactions;
• Gain a positive attitude towards the VAT treatment of simple and more complex transactions; 
• Adopt new practices in transaction analysis that will lead the participants to correct VAT treatment;
• Gain a positive attitude towards the VAT treatment of e-commerce transactions.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

The training program will cover the below topics with the use of practical examples for better understanding:

Part 1: Interpretation of Terms 

• Relevant Taxable Person
• Business
• Taxable Supplies
• The scope of VAT
• Principles of VAT

Part 2: VAT Registration

• Compulsory
• Voluntarily

Part 3: Eligibility to claim Input VAT

• Partial Exemption – illustrative example

Part 4: VAT treatment of Financing companies

• Financing within EU
• Financing outside EU

Part 5: VAT and Holding companies

• VAT Treatment of Pure and Active Holding/Management Entities
• Recent Tax Department practice and Case Law - The European Court of Justice (ECJ) in two recent landmark decisions endorses the principles on input VAT recovery of holding companies involved in contemplated subsidiary share acquisition/disposal

Part 6: Place of supply of services 

• Basic rules for Business to Business (B2B) and Business to Consumer (B2C) transactions -
• illustrative examples
• VIES for RC services

Part 7: General Exemptions 

• Services directly relating to immovable property
• Passenger transport services
• Hiring a means of transport services
• Supplies of cultural, artistic, sporting, scientific, educational, entertainment and similar services

Part 8: B2C Exemptions

• Supply of services by Intermediaries
• Transportation of goods within EU Member States
• Transportation of goods other than between EU territories
• Ancillary transportation services
• Electronically Supplied services
• Long-term hiring of means of transport
• Certain Services to non-EU Customers by EU Suppliers

Part 9: Recent VAT updates

• Closure

Instructor - 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.