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

This program is specifically designed for Financial Managers, Chief Accountants, Accountants and specialized professionals responsible for dealing with financial matters, practicing the provisions of Cypriot VAT law and are responsible for the VAT treatment of transactions effected by taxable persons. Trainees will receive a Certificate of Attendance.

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

MODULES 

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