ΠΕΡΙΓΡΑΦΗ

The Cyprus International Tax Conference stands out as a pivotal event for tax professionals in Cyprus, especially as 2025 promises to be a landmark year with the upcoming Cyprus tax reform nearing its final stages. 

This year, the first part of the Conference will delve into the upcoming reform’s implications, examining how it aligns with broader EU and international tax trends that are reshaping global tax policies. 

The second part of the Conference will shed light on international tax matters affecting the global and EU tax landscape. The conference will bring together leading experts to discuss how the Cyprus tax reform, along with significant international developments, is set to reshape Cyprus’ tax legislation and practices. .

Distinguished speakers from Cyprus and abroad—including policymakers, tax practitioners, and industry leaders—will provide valuable insights into the dynamic landscape of international tax and its implications for Cyprus.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

This year, the Conference will focus on critical topics such as:

• Cyprus Tax Reform in Focus: Given the tax reform’s near-finalization, multiple sessions on this topic will provide an overview of its proposed changes, anticipated effects on businesses, and strategic approaches for maximizing compliance and competitiveness within Cyprus’ evolving tax landscape.
• OECD Pillar 2 Implementation: Exploring how Cyprus is preparing to adapt to the global minimum tax under the OECD’s Pillar 2 framework, addressing compliance challenges and the impact on multinational corporations operating within the island.
• ATAD 3 and the EU’s Anti-Tax Avoidance Initiatives: A detailed examination of the Unshell Directive, with insights into how these regulations will affect corporate structuring and reporting obligations in Cyprus.
• Practical Implementation of Transfer Pricing Rules: This session will cover the ongoing challenges in transfer pricing, discussing best practices and practical approaches to implementation, common issues that arise, and strategies for effective compliance with local and international requirements.
• VAT Strategies for Evolving Business Models: Digital Goods, Services, and Beyond: This session will focus on important VAT developments and VAT strategies that align with modern digital business models, including virtual goods and services, digital subscriptions, and cloud-based services.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

The conference is addressed to professionals and more specifically senior executives from the tax and legal departments of the following:

• Accounting, Audit and Tax Firms
• Banks and other Financial Institutions
• Law Firms and Legal Consultants
• Investment Firms
• Trust Service Providers
• Wealth Management Firms
• Corporate Service Providers
• Relevant Governmental Authorities
• Local and European Regulatory Bodies
• CFOs from large corporations from all sectors of economic activity

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Speakers

Kyriakos Iordanou (General Manager, Institute of Certified Public Accountants of Cyprus)

Kyriakos Iordanou is the General Manager of the Institute of Certified Public Accountants of Cyprus (ICPAC) since January 2012. Prior to that, he served as a Council member between 2002 to 2011, rising to the position of the Vice President (2009-2011). Kyriakos Ιordanou is a Fellow of ACCA, member of the Chartered Institute of Public Finance and Accountancy (CPFA) and a Fellow member of the Institute of Chartered Secretaries and Administrators (FCIS), as well as a Certified Internal Auditor (CIA) and a member of the Chartered Institute of Marketing (MCIM). He also served as a board member of the Cyprus Institute of Internal Auditors (2006-2011). In 2019, he was elected as the President of the Parallel Parliament for Research, Innovation and Digital Governance.

Soteris Markides (Tax Commissioner, Republic of Cyprus)

Soteris A. Markides holds a BA (Hons) degree in Accounting and Finance (1994) and a Master’s degree (MSc) in Business Finance (1995). After winning a scholarship by the Cyprus Government he received a Master’s degree in Public Service Management (2010). Ηe is also a member of the Institute of Chartered Accountants in England and Wales (1998) and the Institute of Certified Public Accountants of Cyprus (1998). During his career in the Private Sector, he gained an extensive experience in Finance, Audit and Taxation. He joined the Public Sector after ranking first in the entrance exams in 2004. Throughout the years he served in various managerial positions, gaining wide spread experience and having the opportunity to represent the government in a lot of meetings and conferences worldwide. In 2016 he was appointed by the Council of Ministers as Deputy Commissioner of Taxation. Since the 1st of July 2022, he was appointed by Public Service Commission, Commissioner of Taxation.

Nicos Chimarides (President, Institute of Certified Public Accountants of Cyprus)

Nicos Chimarides is the president of the Council of the Institute of Certified Public Accountants of Cyprus (ICPAC). He has been a member of the ICPAC Council for more than 10 years and has served in the Taxation Committee, Education Committee and other committees of the Institute. He is a partner in PwC Cyprus, a member of the firm’s Management Board and Tax & Legal Leader. His specialisation is in international tax and has over 25 years of experience in advising large MNCs on international tax matters. Nicos Chimarides is a member of the Institute of Chartered Accountants in England and Wales and holds a Bachelor’s degree in Economics and Computer Science from Queen Mary College, University of London.

Marios Andreou (Tax Expert, Project Advisory Committee of the Cyprus Tax Reform)

Marios Andreou is the National Tax Policy leader at PwC Cyprus also leading the UK and India market business efforts. Through his time with the Firm in London and in Cyprus, Marios has wide experience in international tax issues, PE and M&A transactions, double tax treaty application and EU tax law. His clients include both local and international corporations including a number of High Net Worth individuals. He is the president of the Cyprus/UK business association and honorary president of the Cyprus/India business association, both under the auspices of the Cyprus Chamber of Commerce and Industry. Through these roles he has been active in promoting trade relations between Cyprus and the UK and also Cyprus and India. Marios is an Associate Member of the Institute of Chartered Accountants in England and Wales (ICAEW) and a member of the Institute of Certified Public Accountants in Cyprus (ICPAC). He has served for a number of years as a member of the taxation committee of ICPAC. Marios is a graduate of the London School of Economics and Political Science (BSc (Econ) Econometrics and Mathematical Economics).

Costas Markides (Tax Expert, Project Advisory Committee of the Cyprus Tax Reform)

Costas Markides is heading the International Tax practice of KPMG in Cyprus. He is a Member of the American Institute of Certified Public Accountants (AICPA) and a Member of the Institute of Certified Public Accountants of Cyprus (ICPAC). Costas Markides is also a Member of the Tax Reform advisory committee and a Member of the advisory team supporting the Ministry of Finance during Tax Treaty negotiations. He is the president of the Cyprus/Kazakhstan Business association, an association which is operating under the auspices of the Cyprus Chamber of Commerce and Industry (CCCI). He is a frequent speaker on topics related to International Tax and has published many articles on the subject, in Cyprus and the US.

Stavros Stavrou (President, Cyprus Chamber of Commerce and Industry)

Stavros Stavrou was born in Alambra (1959) and studied at The English School Nicosia and was subsequently awarded a First Class Honors Degree from Middlesex Polytechnic (London) (BA Accounting and Finance with Hons). Mr. Stavrou is a Fellow Member of the Institute of Chartered Accountants in England and Wales and a Member of the Chartered Institute of Internal Auditors of UK. He is also a holder of Diploma for Non-Executive Directors. He served in a number of operational positions including that of Group CFO from 1993-2003 and Managing Director from 2003-2008 in a multinational organization in the Oil and Gas industry. He served as a Member of The Board of Trustees of the International School of Monaco from 1998-2003. He served and/or continues to serve as Non-Executive Independent Director in a number of Boards in various industries including Banking, Insurance, Reinsurance, Mining, Software Development, Property Development, Construction, Shipping and others. He is currently the President of the Cyprus Chamber of Commerce and Industry.

Valentinos Polykarpou

Valentinos Polykarpou studied Political Science at the University of Cyprus and went on to complete a Master’s in Political Science at the French National School of Political Sciences (Sciences Po Paris). Building on his academic background, Valentinos began his career in political communication and electoral analysis before transitioning into the business world. In 2014, he joined Wargaming, an awardwinning online game developer and publisher, as Communication and HR Manager. Over the years, he advanced within the company, most recently serving as Executive Director Global HR Ops and Services, where he oversaw human resources operations on a global scale. Since 2018, Valentinos has been serving as General Manager for Wargaming’s Headquarters and Operations in Cyprus. In addition to this ongoing role, Valentinos has recently taken on new responsibilities as Locations Platforms Director at Wargaming Group. Furthermore, since March 2023, Valentinos has been serving as Chairman of the Board of Directors of TechIsland, a non-profit tech association dedicated to transforming Cyprus into a hub for technology and innovation.

Demetris S. Vakis (First Vice Chairman, Cyprus Employers and Industrialists Federation (OEB))

Demetris holds a BSc. in Computer Science and Accounting (Joint Honours) and is a fellow member of the Institute of Chartered Accountants in England and Wales (ICAEW) in London. He is a Board member of KPMG since 1991, First Vice Chairman of the Board of the Employers and Industrialists Federation of Cyprus (OEB), President of the Cyprus Organization for Standardisation, member of the Institute of Certified Public Accountants of Cyprus and of the Cyprus Institute of Internal Auditors of Cyprus, member of the Tech Board of the Institute of Chartered Accountants in England & Wales and member of the Advisory Board for the School of Economics and Management of the University of Cyprus.

Joseph Merhi (Τreasurer, Federation of Building Contractors Associations of Cyprus)

Born in Beirut in 1968, Joseph’s family moved to Cyprus shortly after. He attended the Junior & Grammar School in Nicosia. He studied Computer Science (BSc) in the UK followed by a Masters in Business Administration (MBA). In his early career, he worked as a system’s analyst and project manager in prominent local companies. He joined PwC management consulting department (then Coopers & Lybrand) in 1997 were he had the opportunity to assist local and overseas companies in improving their business model and processes. In 2003, he joined a then small construction company as general manager. In 2009 he took responsibility as managing director and soon after became part owner of the construction company. He remains the managing director of a now leading construction group (AGC). He is a member of the board of the Cyprus Contractor’s Association and a member of judge’s labour dispute court. He is also Managing Director of AGC Group (Cyprus) and Vice President of SEOK. He is married to Maria and has two children, Ramon and Andreas.Joseph is a Cyprus citizen with a clean police record.

Thanos Michaelides (President of the Cyprus Hotel Association)

Thanos Michaelides obtained a double major in Economics and Political Science from Brandeis University, USA, and an MBA from London Business School. Appointed CEO of Thanos Hotels in 1993, he is the visionary for Thanos Hotels with overall responsibility for the group. Thanos is Owner and Director of the Kult Boutique luxury fashion chain, with 6 locations in Cyprus including City of Dreams Casino, Limassol, and downtown Nicosia and Limassol. Kult is the exclusive retailer in Cyprus of several top designer brands. Thanos is President of the Cyprus Hotel Association since 2023. He was also President of the Paphos Branch of the Cyprus Hotel Association, and Member of the Board of Directors of the Pafos Innovation Institute.

Andreas Papagavriel (Director - Tax Services, Baker Tilly South East Europe)

Andreas is a member of ICAEW. He also holds the Advanced Diploma in International Taxation (ADIT) from the CIOT in the UK. Andreas holds the position of Director in the Tax Services Department of Baker Tilly Cyprus. He has experience in international tax planning and on structuring operations and transactions for international clients in various industries. Furthermore, he has extensive experience in providing tax transaction advisory to both local and international clients with operations in Cyprus and abroad. He has also been involved with several due diligence projects concentrating on direct and indirect tax issues in a variety of industries.

Stavros Supashis (Director - Tax & Legal, PwC Cyprus)

Stavros holds a Law degree from the Kapodistriako University of Athens, an LL.M in commercial law from the University of Bristol and an Adv. LL.M in International Taxation and a diploma in Fiscal State Aid from the ITC-University of Leiden. Stavros is currently a Director of PwC Cyprus’ tax practice (supporting large local and international groups on compliance and advisory matters) and serves as the Co-Driver of PwC’s European Direct Tax Group which is PwC’s pan-European network of EU law experts specialising in all areas of direct tax, including the fundamental freedoms, EU directives and State aid rules. Stavros is part of PwC Cyprus dedicated Pillar Two team which helps clients on Pillar Two related matters and is also an active member of the ICPAC Pillar Two sub-committee.

Joanne Theodorides (Director - Tax & Legal, PwC Cyprus)

Joanne Theodorides is a member of the Institute of Chartered Accountant in England and Wales (ICAEW) and a member of the Institute of Certified Public Accountants of Cyprus (ICPAC). She has 30 years professional experience in the UK and Cyprus, including 15 years with PwC Cyprus. Her current areas of focus include Cyprus and international tax developments, Fiscal State aid and tax advice on business changes. She also has experience in tax audit and compliance. She is a member of PwC’s European Union Direct Tax Group (EUDTG) Technical Committee and State Aid Working Group.

Christos A. Theophilou (International Tax and Transfer Pricing Partner, STI Taxand)

Christos A. Theophilou is a distinguished tax expert, providing advisory services to both private and corporate clients on intricate international tax and transfer pricing issues. His expertise encompasses cross-border investments, private equity structuring, structured finance, intellectual property structuring, and international trade. Christos holds an MSc in Tax Law from Oxford University, a Bachelor’s degree in Economics, and an LLB Law. He is a Chartered Accountant in England & Wales and has obtained the Advanced Diploma in International Taxation (ADIT) from the UK Chartered Institute of Taxation. Christos is a prolific contributor to various esteemed international tax publications, including IBFD, Tax Notes International, Bloomberg Tax, International Tax Review, Edward Elgar, and IFA. Christos is a member of the Tax Policy and Strategy committee of the ICPAC. Christos also serves as a freelance lecturer for Tolley’s (LexisNexis) and IBFD, where he lectures on ADIT Paper 1: Principles of International Tax, ADIT Paper 3: Transfer Pricing, and Pillar 2. He is a frequent speaker at international tax conferences, sharing his extensive knowledge and insights with the global tax community.

Ilham Hmimou (Director, Tax & Legal, Transfer Pricing, Deloitte Middle East)

Ilham Hmimou is a Tax and Transfer Pricing Director with 12 years of experience in international tax and TP strategy, compliance, and controversy across the Middle East and Europe. She leads AI-driven innovation in tax and legal services, spearheading the development of the first professional Tax AI tool in the Middle East. Ilham holds certifications in AI Product Management (Duke University) and Generative AI for Executives and Business Leaders (IBM), with expertise in Large Language Models (LLMs) and AI-driven tax solutions.

Iacovos Themistocleous (Senior Tax Manager & Board Member, RSM Cyprus)

Iacovos Themistocleous is a Senior Tax Manager and Board Member at RSM Cyprus, specialising in local and international taxation and also acting as the Firm’s Money Laundering Compliance Officer. He offers tax advisory services to a diverse portfolio of clients, including high-net-worth individuals, private companies and multinational groups. He commenced his career in 2014 when he trained as an auditor and qualified as a Certified Accountant. His experience includes advising clients on tax compliance matters, financing structures, corporate restructurings and other international tax projects. Iacovos holds a BA (Hons) in Accounting and Finance from De Montfort University, Leicester. He is a Fellow Member of the Association of Chartered Certified Accountants (ACCA), an Associate Member of the International Compliance Association (ICA) and a member of the Institute of Certified Public Accountants of Cyprus (ICPAC).

Panayiotis Marinou (Tax Partner, Deloitte Cyprus)

Panayiotis is a Tax Partner at Deloitte Cyprus with over 15 years of experience. He holds a BSc in Accounting & Finance from London School of Economics and Political Science. He qualified as a Chartered Accountant in 2012 and is a fellow of the ICAEW. Panayiotis also holds the Advanced Diploma in International Taxation from the CIOT. He is also a member of ICPAC and serves on the Tax Compliance Committee of the Institute, having previously served on the Energy Committee. He offers tax compliance and advisory services to a diverse client portfolio, including advising on cross-border, corporate restructuring, and M&A projects, and also specialises in Transfer Pricing. Panayiotis is the Chief Tax Officer of Deloitte Cyprus and the firm’s Industry Leader for Energy, Resources and Industrials.

Valentinos Pavlides (Director of Tax and Transfer Pricing Services, Baker Tilly Klitou and Partners Limited)

Valentinos holds the position of Director of Tax and Transfer Pricing Services at Baker Tilly Cyprus. He is a member of ICAEW, ICPAC and CIOT as well as the president of the Tax & Legal Committee of CYFA. Valentinos is the regional Baker Tilly SEE TP Leader with over 8 years experience in the field. He also has experience in Corporate Taxation, High Net Worth Individuals taxation and planning, Tax Compliance and International Tax Planning as well as in Due Diligence projects in a variety of industries.

Evgenios Evgeniou (Chairman, Invest Cyprus)

Chairman of Invest Cyprus, non-executive director in financial services, Chairman of Nicosia for Art, member of the Corporate Governance committee of the ICAEW. Had a 31-year career with PwC, served as Chairman and Senior Partner of PwC Cyprus (2012-2021) and member of the PwC EMEA Leadership (2014 - 2021) representing fifteen European territories. Beyond commercial success, key achievements included: technological transformation; developing the data analytics, Cyber security, and AI capabilities; launching the PwC Experience Centre. An Imperial College London Engineering graduate (BEng), a Fellow Chartered Accountant (FCA), completed the Harvard Direct Leadership program. In 2024 he earned the MA in International Affairs (Strategic Studies) from King’s College London and the INSEAD Certificate in Corporate Governance.

Ioanna Stylianidou (Director - Head of Transfer Pricing, PwC Cyprus)

Ioanna Stylianidou is a Fellow Member of the Institute of the Institute of Chartered Accountants in England and Wales and a member of the Institute of Certified Public Accountants of Cyprus (ICPAC). She holds a Masters degree in Economics (University of Cyprus) and a Bachelor degree in Accountancy (University of East Anglia, UK). Ioanna is currently the Head of Transfer Pricing Services in PwC Cyprus and has extensive experience in advising prominent multinational and regional companies on (amongst others) setting up/developing their TP models and policies, assisting in the preparation of TP documentation (TP studies, Master/Local Files, CbC reports) and dispute resolution. She also has wide experience in supporting large local and international groups on direct and indirect tax compliance and advisory matters. Ioanna is also an active member of the ICPAC Transfer Pricing sub-committee. Before joining PwC, Ioanna worked as a principal tax assessor at the Cyprus Tax Department carrying out tax audits of large corporations and was seconded to the Tax Policy and Administration Directorate of the Ministry of Finance in Cyprus, where she was involved in the formulation of fiscal policy, drafting tax legislation and representing Cyprus to various tax working groups of the European Council. She was also the appointed representative of Cyprus to the EU Joint Transfer Pricing Forum.

George Liasis (Partner & Tax Services, Ernst & Young Cyprus)

George Liasis is the Partner leading the Indirect Tax team of EY Cyprus and the current Chairman of the VAT Committee of the Institute of Certified Public Accountants of Cyprus. He specializes in VAT and other indirect tax matters.

Simos Simou (Director, Indirect and Environmental (incl. ETS & CBAM) Taxes – Green Tax Transformation & Controversy Leader, EY Law)

Simos Simou is a Director and Barrister-at-Law at Koukounis, Karaolis LLC (member of the EY Law network). He specializes in tax – ESG law and more specifically in the resolution of tax disputes as well as in indirect and environmental taxes with practical experience in EU, Cyprus, Greece, Malta, UK and Ireland. Simos holds tax and accounting qualifications as a member of Middle Temple Inn in England & Wales, Association of Tax Technicians UK and Chartered Institute of Arbitrators. Heading VAT, Green and Direct Tax projects for multinationals worldwide and the Directorate-General for Reforms of the European Commission, he is currently involved as a regional project expert on the introduction of green taxation in Greece. Simos has been named as EY Indirect Tax Knowledge International Champion in 2018 for outstanding performance in facilitating knowledge contributions among EY member firms globally.

Aleksandar Ivanovski (Director, CFE Tax Advisers Europe)

Dr. Aleksandar Ivanovski is Director of Confederation Fiscale Europeenne (CFE Tax Advisers Europe), the leading body representing European tax institutes and associations of tax advisers, and since 2020, an expert member of the European Commission Platform for Tax Good Governance. Prior to joining CFE, Aleksandar worked in the Revenue administration and in academia, at Queen Mary University of London. He holds a PhD in Law from the same university and is a frequent commentator on issues of tax policy and subsidies/ State aid.