09.12.21
WEBINAR: ADVANCED VAT

Academy

The purpose of this program is to enhance the knowledge of the accountants, to meet the demands of their clients’ reporting requirements and acquire sufficient knowledge and skills in the field of VAT, which will enable them to correctly analyze the transactions they face on a daily basis in their working environment, so as to achieve the correct VAT treatment.

After the completion of the webinar, participants are expected to:

Knowledge:

  • 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;

Skills:

  • 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.

Attitude:

  • 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.

The offered Professional Training Course has been approved by the Human Resources Development Authority of Cyprus (HRDA).

WHO SHOULD ATTEND?

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.

This seminar contributes to Continuing Professional Development for 7 CPD Units (Verified by CYBAR Association).

WHERE AND WHEN

Venue: The course will be held online via zoom

Date & Time: 09th December, 2021, 09:00-13:00 & 10th December, 2021, 09:00-12:30

Language: Greek language with the slides in English

SEMINAR COST AND DURATION

The seminar’s cost and duration for participation is presented on the table below:

Duration Participation Cost HRDA Subsidy
(for beneficiaries)1
Cost to the company

7 hours (2 days)

€210.00 + 19% VAT

€119.00

€91.00
+ VAT (€39.90)

1 Beneficiaries: working in companies/organisations (€119.00 subsidy) and unemployed (100%) provided that they satisfy the conditions laid down by the HRDA. No financial support is provided for self-employed and public servants. Beneficiaries pay the difference of participation cost that remains after the HRDA subsidy. For unemployed beneficiaries the participation is free.
REGISTRATION

To register click here and send it to us by email to academy@kinanis.com 

MODULES

Introduction

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
INSTRUCTOR’S CURRICULUM VITAE

Mrs Demetra Constantinou, FCCA, ADIT
Kinanis LLC, Partner
Demetra Constantinou holds a BSc in Public & Business Administration. In 2009 she obtained her professional qualification of ACCA and since then her professional development escalated by adding further professional qualifications in her curriculum as follows;

Chartered Institute of Taxation, Advanced Diploma in International Taxation (ADIT) – Specialization in EU VAT, CySEC's Advanced Certificate in Financial Services Legal Framework.

Demetra commenced her career in 2006 at Kinanis LLC and has walked her way towards partnership through various managerial and strategic roles. Currently, she is a Partner at Kinanis LLC and manages the Accounting and VAT Department. Her main area of practice is Accounting and VAT consultancy for local and international clientele, as well as General Tax Advisory Services for EU based clients on various EU tax matters relating to VAT Law, Blockchain consulting services on Tax and VAT aspects.

Demetra has extensive experience in rendering lectures on Paper_P6: Advanced Taxation of the ACCA qualification and other seminars on VAT topics. She has also been a guest speaker in a number of internal and external seminars and conferences on her topics of expertise. In January 2019 she obtained her professional qualification as Certified HRDA Trainer of Vocational Training.

ADDITIONAL INFORMATION


Contact Mrs. Ivi Papaioannou at academy@kinanis.com (22 558836)