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Income Tax and Special Defense Contribution: A Practical Approach (HRDA Funded)

Income Tax and Special Defense Contribution: A Practical Approach (HRDA Funded)

  • Face-to-Face
  • October 17, 2024
  • Thursday, 9:00 AM to 5:00 PM
  • Instructor: Georgia Cottis

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Tickets details

  • €190.00 Original Cost (Without HRDA subsidy) 20 remaining
  • €50.00 Cost with HRDA subsity 20 remaining
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Organized By Instructor: Georgia Cottis
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Original Cost (Without HRDA subsidy)
20
€190.00
One time registration allowed for this ticket
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Cost with HRDA subsity
20
€50.00
One time registration allowed for this ticket
€0
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Income Tax and Special Defense Contribution: A Practical Approach (HRDA Funded)

Face-to-Face

Thursday, 9:00 AM to 5:00 PM
October 17, 2024

000000

Instructor: Georgia Cottis

Organizer's other events

Event Categories:

Personal Development / Professional Development

Overview:

The seminar explains the provisions of the Income Tax and Special Defense contribution legislation focusing on the most recent amendments and how these provisions affect Cyprus tax resident entities and individuals.

Importance:

In recent years, there have been various and important changes to the Income Tax and Special Defense Contribution 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 such as accountants, auditors, financial managers and CFO must be trained appropriately so that they can properly serve the needs of their company and their client, be able to adequately prepare and submit various tax returns and mitigate the tax risks which are likely to generate fines and surcharges.

Learning Objectives:

  • Develop a clear understanding of the fundamental principles of Cyprus Income Tax and Special Defense Contribution legislation and appreciate key tax concepts such as residency, permanent establishment, and the concept of domicile for individuals.
  • Gain practical awareness on how various active and passive income streams are taxed in Cyprus.
  • Be able to accurately complete Cyprus company returns, maintain proper documentation, and keep records in accordance with Cyprus tax legislation requirements.
  • Understand international aspect of Cyprus tax legislation, including double tax treaty and EU directive provisions.
  • Gain insights into the tax audit process so that they prepare accordingly in case of an inspection by the Cyprus tax authorities.
  • Acknowledge the most important incentives of Cyprus tax legislation which can be attractive to foreign investors.
  • Appreciate how penalties and interest are levied in case of non-compliance with the provisions of the legislation.