European Institute of Management and Finance | Business Tax Fundamentals
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Business Tax Fundamentals

Business Tax Fundamentals


Business taxation is extremely important but the lack of training on this subject has made most people avoid giving it the proper attention. Most leave the matter to the accountants but ultimately the person in charge will be liable regardless of his/her ignorance.


This programme provides a clear and concise explanation of the fundamental business tax concepts covering both tax planning and compliance. The course covers core business tax concepts and principles including tax accounting rules, gross income, deductions, depreciation, property transactions, taxes, and tax credits.


Furthermore, it presents the procedures and computations in a simplified manner to enable the participant to attain a good basic knowledge of business taxation after completing the course.



Training Objectives


By presenting the procedures and computations in a simplified manner, participant will be able attain the knowledge and a good basic understanding of business taxation.  Participants will:


  • Learn what business taxation is
  • Understand the fundamental laws relevant to business taxation
  • Become familiar with the registration procedures and guidelines and reportorial requirements by the taxpayer and his trade, business and profession
  • Become familiar with the types of taxes
  • Become aware of the possible remedies in case of tax assessment
  • Lean the fundamentals of the Common Reporting Standards
  • Upcoming changes



Training Outline


  • Basic concept of Cyprus corporate tax
  • Cyprus tax administration
  • Taxation of dividends, interest and royalty in Cyprus
  • Capital gain tax in Cyprus
  • Overview of tax deductions in Cyprus
  • Trade losses, unutilized capital allowances, Group relief and PIC
  • Taxation of Cyprus investment companies
  • Special Defence Contribution (SDC) in Cyprus
  • Taxation of restructuring, mergers and acquisitions
  • Tax avoidance and tax evasion in Cyprus
  • Value Added Tax (VAT) in Cyprus
  • Payroll Taxation in Cyprus – Social Insurance Contribution (SIC) and Social Cohesion Fund Contribution (SCFC)
  • Upcoming changes



Training Style


The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations. Participants will also benefit from customised feedback at the end of the programme and take away the knowledge gained to be transferred at their workplace. Most of the training’s time will be invested in analysing a real-life case study that will help participants understand how to solve problems in similar situations.



Who should attend


The programme will be of benefit to professionals who need to understand the fundamentals of business tax and is ideal for:


  • Financial controllers
  • Accountants
  • Tax consultants
  • Auditors
  • Business owners
  • Directors
  • Departmental managers
  • Corporate administrators