ΠΕΡΙΓΡΑΦΗ

Unravel the Secrets of Transfer Pricing: Mastering the Art of Intercompany Transactions in Cyprus

Unlock your organisation's potential with our transfer pricing training program and gain essential knowledge and practical skills to navigate Cyprus's transfer pricing landscape confidently. By understanding key principles and mandatory reporting requirements, you empower your team to meet obligations effectively. Whether you're a seasoned professional or new to the field, this training is designed to elevate your expertise and position your organization for success. Through interactive sessions and real-world case studies, you'll explore practical strategies for establishing and controlling transfer prices, ensuring compliance and optimisation.

Join us on this transformative journey and master the art of transfer pricing.

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 (6 CPD).

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

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

• define the transfer pricing reporting obligations that are applicable for Cypriot tax resident persons and permanent establishments of foreign entities
• explain the main principles of transfer pricing
• choose the applicable transfer pricing methods to various transactions between related parties
• apply internal transfer pricing mechanisms for transactions between related parties
• implement different approaches to transfer pricing analysis
• encourage transfer pricing reporting compliance at a company or group level
• juxtapose possible transfer pricing models for particular intercompany transactions.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

The training is addressed to employees of tax and finance departments such as internal Tax professionals, CFOs, finance managers, directors, accountants and other professionals, who wish to enhance their knowledge of transfer pricing analysis and understand the importance of establishing arm’s length prices for intercompany transactions.

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Agenda

1. Introduction (1 hr)

Key principles of transfer pricing: Cyprus legislation and Organisation of Economic Cooperation and Development (OECD) Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations

• Arm’s length principle
• Transfer pricing methods
• Transfer pricing reporting in Cyprus

2. Transfer pricing in services transactions (1 hr)

• Functional analysis
• Applicable transfer pricing methods
• Low value-adding services and benefits test
• Allocation of costs

3. Transfer pricing in transactions involving intellectual property (1 hr)

• Development, Enhancement, Maintenance, Protection, Exploitation (DEMPE) functions
• Applicable transfer pricing methods
• Economic analysis

4. Transfer pricing in financial services transactions (1 hr & 30 min)

• Estimating credit rating of a borrower
• Adjusting credit rating for group membership
• Analysis of loans
• Lender’s and borrower’s perspective
• Analysis of financial guarantees

5. Preparation of Cypriot transfer pricing reporting (1 hr)

• Table of summarized information
• Local file
• Master file

6. Summary & Discussion - Questions & Answers (30 min)

Services

Our services include:

• Handouts, including the hard copy presentation, examples, case studies, exercises, and additional notes, if applicable.
• Stationery, such as pads, pens, and files.
• Drinks (coffee, tea, etc.) and a buffet lunch.
• A fully equipped training room with WiFi access.
• Certificate of completion.

Trainers

Volodymyr Serdechniuk
Senior Manager, Transfer Pricing, KPMG in Cyprus

Volodymyr is a Taras Shevchenko National University of Kyiv graduate, holding a Master’s degree in Mathematics.

Volodymyr has a deep knowledge and expertise in transfer pricing. He has been advising local and international clients from all major industries on transfer pricing matters.

Volodymyr has more than 8 years of experience of transfer pricing practice in four different countries. During his tenure that starts in 2014 he was in charge of more than 100 transfer pricing engagements serving multinational enterprises on various topics: from fulfilling compliance obligations to establishing efficient intragroup pricing policies.

Volodymyr was advising clients from more than 10 different countries. One of his major projects includes advising a major multinational company in relation to concluding a bilateral advance pricing agreement.

Michalis Fiakkou
Senior Manager, International Tax, KPMG in Cyprus

Michalis is a Senior Manager in the International Tax department of KPMG in Cyprus, possessing more than 11 years of professional experience. He joined the firm in 2018 and  specialises in Transfer Pricing and DAC6. He is a member of the Association of Chartered Certified Accountants (ACCA) and the Institute of Certified Public Accountants of Cyprus (ICPAC).

Michalis is actively involved in advising international and local clients on their transfer pricing obligations and assisting them in the preparation of the required transfer pricing documentation. Additionally, he is highly involved in assisting clients in understanding how DAC6 rules affect their day-to-day operations and fulfilling their DAC6 reporting obligations in Cyprus.