Download Brochure

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:

By the end of the seminar participants will:

• have a clear understanding of the fundamental principles of Cyprus VAT, including the concepts of input VAT, output VAT, time and place of supply, reverse charge and exemptions.
• be able to identify common VAT compliance errors and take steps to avoid them in their daily work, thereby reducing the risk of penalties and fines.
• accurately complete Cyprus VAT returns, maintain proper documentation, and keep records in accordance with Cyprus VAT legislation requirements.
• appreciate how to carry out a cross border VAT claim in Cyprus, through the cross border refund scheme designated portal.
• understand the VAT audit process so that they prepare accordingly in case of an inspection by the Cyprus VAT department.

7 CPDs

Upon successful registration, participants will receive the seminar link via email.