Tax Updates 2024

Brace yourself for a transformative journey through the latest tax developments in Cyprus as you navigate the evolving tax terrain. This training program will equip you with the knowledge and practical skills needed to stay ahead in an ever-changing landscape. Recent updates in tax laws and circulars will be examined alongside anticipated revisions in Cyprus' tax legislation and administrative processes. While engaging in real-world case studies and interactive sessions, participants will gain a deep understanding of essential tax components, including assessment and collection, corporate income tax, special defense contributions, and capital gains tax. Through this seminar, you will be empowered to effectively implement these updates in the workplace, seamlessly integrating them into tax compliance and reporting practices. Additionally, the intricacies of the tax portal will be uncovered, enabling mastery in the correct completion of tax forms to unlock the platform's full potential.

Stay ahead of the curve and embrace the future of taxation with confidence.

Join us on this transformative journey as we navigate the evolving tax terrain together.

By the end of the training, participants will be able to:

Knowledge level

1. Identify the risks that may arise from the erroneous application of the tax legislation to their colleagues.
2. Describe the proper way of handling the tax affairs of their company.
3. Name recent tax changes and describe the legislation to their colleagues.
4. Provide an overview of the ATAD provisions.

Skills level

1. Demonstrate the proper way of handling their tax compliance tasks (e.g. meeting various deadlines regarding tax payments and submission of tax forms).
2. Apply the new amendments in legislation to their workplace.

Attitude level

1. Encourage the application of tax compliance and the constant update on recent Tax amendments in their workplace.
2. Support colleagues on the proper use of the tax portal.

This training is addressed to CEOs, CFOs, accountants and internal tax advisors and any other relevant professionals who apply in practice the provisions of Cyprus tax legislations.

All participants should be currently employed.

*The number of participants is restricted to 28.

1. Assessment and Collection of Taxes Law – Updates (30 min)

• Changes/Amendments in legislation
• New Tax Circulars/ Tax Department Announcements
• Expected developments

2. Corporate Income Tax – Updates (4 hrs & 30 min)

• Changes/Amendments in legislation
• New Tax Circulars (including TD circulars on personal tax exemptions, contributions to medical plans and tax reorganisations)/ Tax Department Announcements
• Transfer Pricing FAQs – new questions
• Expected developments
• Anti-Tax Avoidance Directive (ATAD) – Interest limitation rule overview

3. Special Contribution for Defence – Updates (15 min)

• Changes/Amendments in legislation
• New Tax Circulars/Tax Department Announcements
• Expected developments

4. Capital Gains Tax Law – Updates (15 min)

• Changes/Amendments in legislation
• New Tax Circulars/Tax Department Announcements
• Expected developments

5. Benefits in Kind (1 hr)

• Matters arising from tax examinations

6. Public Country by Country (30 min)

• Expected Developments

Our services include:

• Handouts, including the hard copy presentation, examples, case studies, exercises, and additional notes, if applicable.
• Stationery, such as pads, pens, and files.
• Drinks (coffee, tea, etc.) and a buffet lunch.
• A fully equipped training room with WiFi access.
• Certificate of completion.

If you wish to register for the seminar, please complete the registration form.

Once your registration is submitted, you will receive an email stating the participation fee, including any discounts, if applicable. Kindly note that the payment should be settled at least two days prior to the seminar’s date for your registration to be confirmed.

The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy. Please note that there are limited seats available, therefore enroll in this seminar as soon as possible.

If you do not receive our confirmation e-mail regarding your registration, your participation cannot be guaranteed.

Cost

€270 Net investment after subsidy from the HRDA of €140: €130 for all eligible participants*

€270 + VAT (19%) for all participants who are non-eligible for the HRDA subsidy.

*Last Date for 10% Early Bird Discount: 21/11/2024

Note

We do not provide a soft copy of the presentation for face-to-face seminars. However, if you would like to request one, please contact us. We may be able to provide it, subject to approval. In this case, the cost of the soft copy will be €50 for participants who have already attended the relevant training, or €100 for those who have not.
 

HRDA Note

For HRDA approved trainings, all individuals who wish to attend our training courses should not only fill out our registration form, but also complete the registration process through the ERMIS platform in order to be approved by the HRDA. Please reach out to the HRDA Ermis officers on 22 390 300 for more details regarding this process. Kindly also note that each participant regardless if they are claiming the HRDA subsidy or not, will need to complete their registration through ERMIS as a physical person and choose our training in order to be able to attend (either as an employee whose company is claiming the subsidy or as an individual not claiming the subsidy).

Discounts available

• For more than two (3+) participants from the same company a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for participants who enroll in the same seminar, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
• For individuals/legal entities who/which register in more than two (3+) seminars during the same semester (January-June & July-December), a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for individuals/legal entities who/which enroll in more than two (3+) seminars during the same semester, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
• There is a 10% discount for alumni members. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the early bird discount and the HRDA subsidy, when applicable. For more information on our alumni scheme, click here.
• There is a 10% early bird discount on selected seminars for participants who enroll in a training course until a specific date which is stated above. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the HRDA subsidy, when applicable.
• HRDA subsidy for all HRDA approved seminars.
• Please note that while participants may qualify for multiple discounts, a maximum of two discounts, up to a total of 20%, can be applied per registration.

Contact

For any queries, please contact Vasiliki Sioziou on +357 22 207 460 or at academy@kpmg.com.cy

CPD

This seminar may contribute to Continuing Professional Development requirements. At the end of the seminar participants will be given a certificate of attendance confirming the total number of training hours (7 CPD).

Katerina Papanicolaou Charalambous
Board Member, Direct Tax Services, KPMG in Cyprus

Katerina graduated with a bachelor’s degree (Hons) in Economics from the University of East Anglia in the UK. She is a Fellow Member of the Association of Chartered Certified Accountants (FCCA) and an ADIT graduate. Additionally, she is a member of the Institute of Certified Public Accountants of Cyprus (ICPAC), a member of ICPAC’s Tax Compliance Committee and a certified “Trainer of Vocational Training” by the HRDA.

Katerina joined KPMG in Cyprus in 1995, where she worked in the Audit department prior to moving to Tax Services. Her portfolio of clients consists of companies listed on the Cyprus Stock Exchange as well as medium and large companies, both local and international.

Katerina possesses experience in the Banking, Investment, Real Estate, Insurance and Retail sectors. She is experienced in direct tax compliance services and actively participates in assisting clients during their tax examination by the Tax department in Cyprus, for identifying and settling their tax liabilities.

Margarita Liasi
Principal, Direct Tax department, KPMG in Cyprus

Margarita graduated with an LLB (Honours) in Law from the University of Sheffield and an LLM in International Commercial Law from the University of Nottingham.

Prior to joining the Direct Tax department of KPMG in Cyprus in 2006, she practiced in law firms and participated in various litigation procedures before the Cyprus courts. She is now a Principal with the Tax Services team of KPMG in Cyprus.

As a member of KPMG in Cyprus, Margarita has been actively engaged in the public dialogue, contributing ideas to the formulation of tax policy with regards to tax amendments and participating in numerous ad hoc committees providing technical comments on tax harmonisation and the development and evolution of the Cyprus tax framework. She is also aiming to enhance the competitiveness of the Cyprus tax system, whilst ensuring adherence to the European Acquis.

Furthermore, Margarita is actively involved in advising clients in relation to their corporate tax affairs, with a particular focus on EU tax matters and their applicability to the Cyprus tax regime. In addition, she serves as KPMG’s EU Tax Country Leader for Cyprus at the KPMG’s EU Tax Center and is a member of various other KPMG Networks.