ΠΕΡΙΓΡΑΦΗ

There have recently been substantial changes and developments in the tax framework, whilst more changes are expected in the current year. Taxpayers (both legal and physical persons) should be able to adhere to their tax obligations under the law, thus, they should be able to identify the relevant changes, such as the assessment and collection of taxes, the corporate income tax, the special contribution for defence, the capital gains tax law as well as the new 0,40% levy.

Given that such tax updates are essential for the proper handling of tax matters, clients who execute tax-related tasks are required to be able to effectively apply these updates in their workplace. In addition, during the training, upcoming tax changes for compliance purposes will be presented, new developments will be thoroughly explained, and practical local and international examples will be discussed. These changes are essential for the preparation of companies’ tax return in accordance with Tax Laws and relevant Tax Circulars.

CPD

This seminar may contribute to Continuing Professional Development requirements. At the end of the seminar participants will be given a certificate of attendance confirming the total number of training hours (7 CPD).

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the training, participants will be able to:

• Describe and explain the risks that may arise from the erroneous application of the tax legislation to their colleagues
• Name the proper way of handling the tax affairs of their company
• Acknowledge recent tax changes and describe the legislation to their colleagues
• Interpret the new Anti-Tax Avoidance Directive (ATAD) provisions
• Demonstrate the proper way of handling their tax compliance tasks (e.g. meeting various deadlines regarding tax payments and submission of tax forms)
• Execute and apply the new amendments in legislation to their workplace
• Encourage the application of tax compliance and the constant update on recent Tax amendments in their workplace.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Agenda

1. Assessment and Collection of Taxes Law – Updates (30 minutes)

• Changes/Amendments in Legislation
• New tax circulars
• Expected developments

2. Corporate Income Tax – Updates (3 hours)

• Anti-Tax Avoidance Directive (ATAD) – Interest limitation rule

            o  Present the scope of affected taxpayers and exempted entities

            o  Outline the basic provisions

            o  Explain the adoption of the rule at group level; definition and calculation

            o  Analyse how the taxpayers may carry forward unused Exceeding Borrowing Costs and Unused Interest Capacity

            o  Provide practical examples which will assist participants in better understanding the rule.

3. Corporate Income Tax – Updates (30 minutes)

• Changes/Amendments in legislation
• New tax circulars
• Expected developments

4. Special Contribution for Defence – Updates (1 hour)

• Changes/Amendments in legislation

The trainers will cover provisions for withholding tax on payment of dividends and interest to non-cooperative tax jurisdictions

• New tax circulars
• Expected developments

5. Capital Gains Tax Law – Updates (30 minutes)

• Changes/Amendments in legislation
• New tax circulars

6. 0,40% Levy on Immovable property disposals (1 hour and 30 minutes)

• Overview of the current legislation and its amendments
• New tax circulars
• Expected developments.

Trainers

Katerina Papanicolaou (Board Member, Direct Tax services, KPMG in Cyprus)

Katerina graduated with a bachelor’s degree (Hons) in economics from the University of East Anglia in the UK. She is a Fellow Member of the Association of Chartered Certified Accountants (FCCA) and an ADIT graduate. Additionally, she is a member of the Institute of Certified Public Accountants of Cyprus (ICPAC) and a certified “Trainer of Vocational Training” by the HRDA.

Katerina joined KPMG in Cyprus in 1995, where she worked in the Audit department prior to moving to Tax Services. Her portfolio of clients consists of companies listed in the Cyprus Stock Exchange, as well as medium and large companies, both local and international.

Katerina possesses experience in the Investment, Real Estate, Insurance and Retail industries. She is experienced in direct tax compliance services and actively participates in assisting clients during their tax examination by the Tax department, for identifying and settling their tax liabilities.

Margarita Liasi
Principal, Direct Tax department, KPMG in Cyprus

Margarita graduated with an LLB (Honours) in Law from the University of Sheffield and an LLM in International Commercial Law from the University of Nottingham.

Prior to joining the Direct Tax department of KPMG in Cyprus in 2006, she practiced in law firms and participated in various litigation procedures before the Cyprus courts. She is now a Principal with the Tax Services team of KPMG in Cyprus.

As a member of KPMG in Cyprus, Margarita has been actively engaged in the public dialogue, contributing ideas to the formulation of tax policy with regards to tax amendments and participating in numerous ad hoc committees providing technical comments on tax harmonisation and the development and evolution of the Cyprus tax framework. She is also aiming to enhance the competitiveness of the Cyprus tax system, whilst ensuring adherence to the European Acquis.

Furthermore, Margarita is actively involved in advising clients in relation to their corporate tax affairs, with a particular focus on EU tax matters and their applicability to the Cyprus tax regime. In addition, she serves as KPMG’s EU Tax Country Leader for Cyprus at the KPMG’s EU Tax Center and is a member of various other KPMG Networks.