Event Categories:

Personal Development / Professional Development

Overview:

The seminar explains the fundamental principles of VAT as well as the most important changes/modifications in Cyprus VAT legislation with a practical approach using real examples.

Importance:

In recent years, there have been various and important changes to the Cyprus Value Added Tax Legislation with the aim aligning the Cyprus Tax Law with EU Directives, therefore modernizing the tax framework, providing tax incentives, but also introducing various safeguards to avoid abusive tax practices. Professionals in the accountancy sector as accountants, auditors, financial managers and CFO must be trained appropriately so that they can properly serve the needs of their company and their clients, be able to adequately prepare and submit various Tax and VAT returns and the tax risk which are likely to generate fines and surcharges.

Learning Objectives:

• To explain the fundamentals provisions of the VAT legislation and to analyze the most recent amendments, changes, updates.
• To recognize frequent errors that arise during the preparation of VAT returns.
• To point out any consequences from the improper application of VAT legislation including fines, additional taxes and changes.