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 their ignorance.
The course provides a clear concise explanation of the taxation of investment funds operating in Cyprus, covering both tax planning and compliance.
Furthermore, it presents the procedures and computations in a simplified manner to enable the participant to attain clear fundamental knowledge of business taxation after completing the course.
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
- 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
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.
The Cyprus Bar Association (CyBAR) has confirmed that this programme is accredited for 5 CPD units.
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:
- Fiduciary and trust professionals
- Investment, Wealth Management, and Administration Professionals
- Administrative Services Providers
- Audit and Accounting service providers.