Training Objectives

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

In terms of Knowledge

• Explain the fundamental laws relevant to the taxation of FinTech Companies
• Explain the key principles of the Cyprus tax framework.
• Explain the main provision income tax law
• Explain main provision of VAT Legislation.
• Identify the benefits of the Cyprus tax system

In terms of Skills

• Compute the corporation tax liabilities of individuals and groups of companies.
• Compute the VAT impact of FinTech companies
• Optimize the tax position of the Group companies.
• Implement proper procedures in relation to corporation tax and VAT compliance in their day-to-day work and meet relevant deadlines.
• Apply the requirements of double taxation treaties.

In terms of Attitude

• Justify the importance of properly computing and paying the taxes arise from transactions
• Justify the need of complying with the tax legislation.
• Motivate other employees to follow specific procedures and guidelines.
• Provide advice on minimising and/or deferring tax liabilities by the use of standard tax planning measures

Training Outline

CY Taxation – An Overview

• The overall function and purpose of taxation in a modern economy
• Principal sources of revenue law and practice
• The systems for self and temporary assessment and the making of returns
• Taxation of passive income
• Withholding taxes

CY Corporation Tax: Considerations for FinTech Companies

• The scope of corporation tax
• Tax residency- Management and Control
• The comprehensive computation of corporation tax liability
• The effect of a group corporate structure for corporation tax purposes
• The use of exemptions and reliefs in deferring and minimizing corporation tax liabilities
• Cyprus IP Regime
• Notional Interest Deduction
• FX gains and losses
• Qualifying titles
• Transfer pricing provisions

Tax Aspects for Individuals expatriates

• Tax residency
• Employment Income Exemptions
• Non domicile concept

VAT Aspects

• VAT exemptions
• Cryptocurrencies
• Payment service providers
• Reverse charge
• VAT recoverability

Who Should Attend

The programme is ideal for people working in accounting departments of Financial Services Companies and any other company that uses financial technology, who wish to obtain a basic knowledge of the tax principles as well as gain a more in-depth practical application of the tax treatment specific to the income and expenses of their organisation.

Training Style

• Illustration of key terms and concepts
• Preparation and discussion of practical examples, including mini cases
• The course will have both a theoretical and practical framework with real examples drawn from actual companies, local and international
• Activities and Break-out groups

CPD Recognition

This programme may be approved for up to 7 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.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.