Training Objectives

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

• Understand the fundamental laws relevant to the taxation of funds
• Explain and compute the corporation tax liabilities of individual and groups of companies
• Explain and compute the special contribution for the defence (SCD) liabilities individuals and companies
• Explain and compute the capital gains tax liabilities of Individuals and companies

Training Outline

Taxation of Investment Funds

• Selection of Fund Domicile – General Tax Consideration
• Investment funds Cyprus tax considerations
• Investment funds form
• Other tax implications

The Cyprus Taxation System and Its Administration

• 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
• The time limits for the submission of returns, information, objections, claims and payment of tax
• The procedures relating to enquiries, objections and appeals
• Penalties for non-compliance

Corporation tax liabilities

• The scope of corporation tax
• 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

Special contribution for the defence

• The scope of the special contribution for the defence (SDC)
• The comprehensive computation of special contributions for the defence liabilities for individuals and companies
• Deemed Distribution Provisions and the comprehensive computation of the tax liability

Capital gains tax

• The scope of the taxation of capital gains
• The basic principles of computing gains and losses
• Gains and losses on the disposal of immovable property
• Gains and losses on the disposal of shares
• The computation of the capital gains tax payable by individuals and companies
• The use of exemptions and deductions in deferring and minimizing capital gains tax liabilities

Course Closure

• Revision
• Q&A
• Feedback

Who Should Attend

The programme is designed for to those working and those seeking to work in the investment funds industry, and, newly practising professionals working in the asset management and investment funds areas within the (legal and auditing)  professional advisory firms such as:

• Lawyers
• Fiduciary and trust professionals
• Investment, Wealth Management, and Administration Professionals
• Administrative Services Providers
• Audit and Accounting service providers

Industry Expert | Marios Mortis 

Marios Mortis holds a bachelor’s degree in Business Administration in Accounting, a Master’s in Banking and Finance, and he is a qualified member of Association of Certified Chartered Accountants (ACCA). Marios has developed and conducted professional training courses on corporate reporting, Accounting and Finance, and Financial Workshops. He had, also, participated to researches on the area of finance and accounting in both academic and professional level. He has a working experience in the accounting, audit, advisory, assurance and banking sectors in various positions and companies in Cyprus. During last 4 years Marios continued his path in the education field which is a challenging and interesting field for him.

He currently works as a Visitor Academic for a local University in Cyprus, where he is teaching courses such as Corporate Governance and Business Ethics, Corporate Finance, Corporate Risk Management and Audit and Assurance. He also holds the position of Trainer & Accountancy Programmes Leader for a local institute where among others he is teaching many courses of various accountancy qualifications, such as the Cash and Treasury Management, Credit Management, Governance, Ethics, and Risks, Management Accounting, and Indirect Tax.

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 5 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.