Transfer pricing is a challenging area in the field of international taxation with which multinational businesses performing intragroup transaction must comply. Cyprus introduced its Transfer Pricing legislation in 2022 therefore it is essential for Cyprus Companies that have related party transactions that fall under this legislation to maintain a robust transfer pricing documentation file to support its intragroup pricing against challenges that will be imposed by the tax authorities.

Being aware of the basic transfer pricing principles and the situations in which an obligation for the preparation of a transfer pricing study arises, will ensure effectiveness in informing the clients of their obligations and providing the at most assistance in fulfilling such obligations.

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

1. Describe the reasons that created the necessity for the preparation of a transfer pricing study
2. Identify which parties are considered related as per the definition included in article 33 of Income Tax Law.
3. Describe the concept of arm’s length principle.
4. Analyse each comparability factor.
5. List and describe the methods that can be used to prepare a transfer pricing study, and choose the most appropriate method for the preparation of a transfer pricing study based on a case-by-case basis.
6. Identify whether a transaction should be supported by a transfer pricing study based on the Law and the new TP regulations, organize the steps required to analyse, summarize, and present data, respond to audits, and defend results of the transfer pricing study.
7. Participate in fruitful discussions regarding the proper preparation of a transfer pricing study.

This program is specifically designed for professionals who would like to become familiar with the essential concepts and principles of Transfer pricing in order to gain a better understanding of the field and correctly interpret the transactions they may potentially face on a daily basis in their working environment.

More specifically:

• Lawyerss;
• Financial Controllers;
• Finance Managers;
• Auditors;
• Accountants;
• Professionals with a particular interest in Transfer pricing;
• Tax professionals.

This seminar contributes to Continuing Professional Development for 3 CPD Units.

Venue: The course will be held online.
Date & Time: 15^th June 2023, 10:00-13:15

Language: Greek language with slides in English

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

To register complete our online registration form here

Introduction

PART A:

• Explanation of what is transfer pricing and why is important
• Analysis of the definition of related parties under article 33 of income tax law
• Analysis of the arm’s length principle
• Examples

PART B:

• Comparability factors
• Explanation of each method
• Practical examples

PART C:

• Back – to – back Circular and its termination
• The new transfer pricing legislation, changes and introduction of APAs.
• New obligations and penalties.
• Practical examples

Mr. Marios Palesis
Kinanis LLC, Partner

Marios is a qualified Accountant and a Fellow member of Association of Certified Chartered Accountants (FCCA), as well, as a member of the Institute of Certified Public Accountants of Cyprus, member of Advanced Diploma in International Taxation (ADIT) and International Tax Affiliate of the Chartered Institute of Taxation (CIOT). Marios has significant experience in Transfer Pricing and international tax planning. He is servicing clients in Cyprus, Malta, Eastern Europe and in other jurisdictions around the globe. His focus is on financial transactions and digital business.

Theodora Charalambous
Senior Advisor, Tax Department

Theodora is a qualified Lawyer and a member of the Cyprus Bar Association.

Theodora has commenced her postgraduate studies in Tax Law, with a specialization in International Tax Law and Transfer Pricing, which has been the area of her expertise

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