This program shall firstly deal with the basic mechanics of company taxation with reference to the Cyprus law and practice. The manner in which the tax is imposed, the charge the computation of assessable profits, items included in income, ascertainment of total income and the rates of Tax will be carefully studied. The aim here will be to illustrate that any item of income is either taxable as defined in the Act, or not taxable if left out of the list of taxable incomes.
Any discussion on tax law is incomplete without looking at the administrative and procedural aspects of that tax system. Thus, it is necessary to study the manner in which a taxpayer informs the Income Tax Department about the details of his tax position on matters such as taxable income, loss or sources of income. The returns made by companies will therefore be discussed. Assessments, objections and dispute settlement will be laid out mainly because it is very important in taxation for the law to lay down clear machinery for dispute resolution
In this vein, in dealing with company tax, the demand for taxpayer rights does not focus on individual taxpayers only (natural persons). Legal persons (corporate taxpayers) want to enjoy similar rights. Several cases have risen in domestic and international law in which corporate taxpayers claim their taxpayer’s rights. Courts have ruled in favour of corporate taxpayers many times.
Recently the OECD and the EU have taken steps towards fighting Base Erosion and Profit Shifting (BEPS). The OECD, supported by the G20 countries, has published 15 reports (action plans) aimed at reducing the possibilities of Multinational Enterprises (MNE’s) to erode their tax base by shifting profit from one tax jurisdiction to another. These proposals may lead to the reduction of BEPS. The downside is however that the proposals may infringe taxpayers’ rights. Therefore, an important question may always arise as to how corporate taxpayer’s rights are influenced by recent developments with respect to anti-BEPS measures for corporate taxpayers
Currently, there are insufficient scholarly articles that discuss to what extent taxpayers’ rights are promoted particularly in Cyprus. However, there is need for such academic and professional work. Cyprus just like any other country in the world needs to assess its tax policies. Therefore, a study that reveals the extent to which the tax authority promotes taxpayers’ rights will portray the current strength and weakness of tax administration in Cyprus, particularly in promoting taxpayers’ rights. Hence, the course will assist taxpayers as well as the Cyprus government Tax officials towards improving tax governance.
Specifically this program focuses upon;
The Cyprus tax system
Tax Administration (Cyprus Revenue Authority)
Tax appeal system
Analysis of taxpayers’ rights
Base erosion and Profit Shifting (BEPS)
Efforts of the EU to counter BEPS
Efforts of the OECD to counter BEPS
Exchange of Information in the OECD BEPS-project
Assessment of taxpayers’ rights in the techniques used to counter BEPS
Who Should Attend
The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations. Most of the training will focus in assessing participants’ current strengths and weaknesses via formal assessment tools. 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 occasions
This programme may be approved for up to 14 CPD units in Accounting and Auditing. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
€292.00 – €530.00The above fee is subject to 19% VAT
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Day 1: November 01, 2022 | 09:00-15:00
Day 2: November 03, 2022 | 09:00-14:00
Day 3: November 08, 2022 | 09:00-14:00
Start time: 09:00 EET
End time: 15:00 EET
Venue: Live Online
Coordinates: 14 | Duration: 14hrs
Directions: <a href="https://eimf.eu/event-organizer/demetris-savvides/">Demetris Savvides (view the trainer's bio here)</a>
Email: [email protected]