VAT for beginners. Brief description: Program outline: Duration: Day 1: 09:00 16:00, Day 2: 09:00 13:15 10 hours / 10 CPD units Date & Venue:

Transcription

1 VAT for beginners Brief description: During the past years there is an increasing trend for companies to manage VAT compliance obligations in house in order to minimize costs. However, simple VAT compliance tasks may lead to significant VAT risks and penalties if not handled timely and correctly. The course aims to provide participants with the adequate understanding of VAT principles to enable proper handling of VAT Compliance obligations. Time Language: & English Duration: Day 1: 09:00 16:00, Day 2: 09:00 13:15 10 hours / 10 CPD units Date & Venue: Limassol: 13 & 14 November 2014 PwC s Training Centre, Limassol (City House, 6 Karaiskakis street, 3032 Limassol) Program outline: A. Basic Principles 30 minutes 1. Overview of EU VAT system 2. Overview of Cyprus VAT system 3. Taxable transactions 4. Taxable persons B. Registration / Deregistration 60 minutes 1. Registration of taxable persons: Voluntary registration Obligation for registration 2. Group Registration 3. Deregistration Nicosia: 21 & 21 November 2014 PwC s Training Centre, Nicosia (Gala Tower, 4 Menandrou str., 1066 Nicosia) Instructors:Martha Lambrou Director, Indirect Tax Services Stavroulla Zenonos Manager, Indirect Tax Services George Liasi Senior Manager, Indirect Tax Services Cost: 270 (+VAT) 10% early booking discount For Limassol booking made by 03/11/2014 For Nicosia bookings made by 10/11/2014

2 C. Taxable transactions 90 minutes 1. Supplies of goods 2. Supplies of services 3. Time of supply 4. Charging VAT Value of supplies 5. Deemed supplies

3 D. Output and Input VAT 2 hours 1. Output VAT VAT rates 2. Input VAT 3. When can I claim input VAT? 4. When is the right to claim input VAT restricted? 5. VAT suffered prior to VAT registration E. Exemption and zero rating 60 minutes 1. Difference between exemptions / zero rate 2. Partial exemption 3. Annual adjustment 4. Capital goods scheme 5. De minimis F. Schemes 45 minutes 1. Cash accounting 2. Second Hand Goods, Margin schemes 3. Tour Operators Margin Scheme G. Overseas considerations 2.5 hours 1. Place of supply: Goods Services 2. Reverse charge 3. 8th and 13th VAT Directive Refunds Who should attend the course? The programme is addressed to people working accounting departments of companies who wish to be able to handle VAT compliance tasks (e.g. preparation of VAT, VIES and

4 Intrastat returns etc.) and identify transactions which give rise to VAT risks and obligations. Language: English Information/Participation: Eleni Anthimou Administrator of PwC s Academy eleni.anthimou@cy.pwc.com Tel.: Fax: For the registration form, please click here

5 PwC s Academy Registration form Please complete all sections and forward to Eleni Anthimou by (eleni.anthimou@cy.pwc.com) or fax ( ) Seminar title: Date(s) of seminar: Town: Enterprise information: Enterprise Name: Main enterprise activity: Enterprise size(*): Small enterprise Medium enterprise Large enterprise Street Address: Address: Postal Code: City: Postal Address: P. O. Box: Postal Code: City: Telephone: Fax: Enterprise Contact details: Contact person: Direct Tel.: Participant(s) details: Full Name Position/Department/Duties Incentive for participation Payment Details: Invoice to be issued on: Enterprise or Participant Date of booking: Total number of participants: Payment Methods: Payment will be settled by: Cheque Total Net amount to be paid: (+) 19% VAT and (-) HRDA subsidy (if applicable) Signature: *Please read Terms & Conditions Please issue in the name of PricewaterhouseCoopers Professional Training Ltd and mail to P.O.Box 21612, CY-1591 Nicosia Bank Transfer Please inform the bank that you will pay all charges. Please send the payment receipt to Eleni Anthimou by (eleni.anthimou@cy.pwc.com) or fax ( ) Bank: Bank of Cyprus Account: SWIFT: BCYPCY2N IBAN: CY Bank Account name: PricewaterhouseCoopers Professional Training Limited Credit Card Note: If the seminar is subsidised by HRDA the card must be an Enterprise Card and NOT personal Visa MasterCard Amex Other Holders Name: Expiry Date: Card Security Code: Card Number: Tick this box if you would like to receive communications from us about future seminars/conferences PricewaterhouseCoopers Professional Training Ltd Gala Tower, 4 Menandrou Street, CY-1066 Nicosia P O Box 21612, CY-1591 Nicosia, Cyprus T: , F: PTO

6 2 * The size of small, medium and large enterprises is determined on the basis of the Commission s Recommendation 2003/316/EC of 6 May 2003 concerning the definition of micro, small and medium enterprises (see Official Journal of the European Union L 124 of 20/5/2003, p 36). The enterprises that don t meet the criteria established by the Recommendation are considered large enterprises. In summary, the sizes of enterprises are as follows: Enterprise size No. of employees Annual turnover (millions Euro) Annual balance sheet total (millions Euro) Large 250 or ( 50 and 43 ) Medium 250 and ( 50 or 43 ) Small 50 and ( 10 or 10 ) To verify the above data the figures of all related and associated enterprises are summed up, as provided by the above Recommendation. Terms & Conditions: Confirmation of participation will be sent by upon receipt of your duly completed registration form. For subsidized seminars, you are required to complete the HRDA form 7 (PE) - and form 2 (PE), if applicable - and send to Eleni Anthimou by (eleni.anthimou@cy.pwc.com) or fax ( ) before the seminar date. All information required by HRDA should be correct and valid. We will send you the form(s) once we receive the registration form. Cancellations must be received at least 5 working days prior to the seminar date. Only in such cases, refunds will be made in full. Payment must be made in full prior to the seminar date. PricewaterhouseCoopers Professional Training Ltd reserves the right to change the date, cancel or postpone a seminar 2 days prior to the set date due to low enrolments or for any other unforeseen reason. Personal Data Protection: You agree that PricewaterhouseCoopers Professional Training Ltd may (subject to compliance with the Cyprus Processing of Personal Data (Protection of the Individual) Law of 2001 as amended) collect, store, disclose and transfer internationally (including disclosure and transfer to other PwC firms or to their subcontractors) personal data, including sensitive personal data, relating to you and/or your employees for various purposes including (i) processing, reviewing and administering your registration form to seminars/conferences, (ii) maintaining the administrative or client relationship management systems of PricewaterhouseCoopers Professional Training Ltd (including the use of IT outsource providers), (iii) quality and risk management reviews, (iv) statistical reviews, (v) providing you with information about PricewaterhouseCoopers Professional Training Ltd and the range of seminars offered, (vi) meeting the requirements of applicable laws and regulations. When you provide personal data to us about your employees and other individuals, you confirm that you only do so provided that you have authority to act as their agent and that you have obtained any required consents. PricewaterhouseCoopers Professional Training Ltd Gala Tower, 4 Menandrou Street, CY-1066 Nicosia P O Box 21612, CY-1591 Nicosia, Cyprus T: , F:

7 Registration form I want to register to attend: F7 F8 P7 PwC s Academy Personal Details Full Name: Full Street Address: Male Female Telephone: Mobile: Personal Firm you are working at (if applicable): Business For students whose fees are sponsored by their employer: Employer s Details Organisation/ Company: Street Address: Postal Code: Postal Address: P. O. Box Postal Code: City: Country: Telephone: Company contact name: % of fees sponsored: 100% 50% other% Signature: Note: In case the firm will sponsor any % of the fee a confirmation letter must be signed by the firm. We would appreciate it if you could send us an informing us of your results in order to be able to get the PwC Academy pass rates for the period. Fax: Agree Don t agree Participant s signature: Date: PricewaterhouseCoopers Professional Training Ltd Gala Tower, 4 Menandrou Street, CY-1066 Nicosia P O Box 21612, CY-1591 Nicosia, Cyprus T: , F: Contact person: Eleni Anthimou Tel.: Fax.: eleni.anthimou@cy.pwc.com

8 2 Notes: Payment must be made in full by the end of the course. Payment can be made by cash, cheque, credit card or bank transfer. Confirmation of participation will be sent by upon receipt of your duly completed registration form. PricewaterhouseCoopers Professional Training Ltd reserves the right to change the date of a course day within a minimum of 3 days prior to the set date. Of any changes you will be informed in advance by . Personal Data Protection: You agree that PricewaterhouseCoopers Professional Training Ltd may (subject to compliance with the Cyprus Processing of Personal Data (Protection of the Individual) Law of 2001 as amended) collect, store, disclose and transfer internationally (including disclosure and transfer to other PwC firms or to their subcontractors) personal data, including sensitive personal data, relating to you and/or your employees for various purposes including (i) processing, reviewing and administering your registration form to seminars/conferences, (ii) maintaining the administrative or client relationship management systems of PricewaterhouseCoopers Professional Training Ltd (including the use of IT outsource providers), (iii) quality and risk management reviews, (iv) statistical reviews, (v) providing you with information about PricewaterhouseCoopers Professional Training Ltd and the range of seminars offered, (vi) meeting the requirements of applicable laws and regulations. When you provide personal data to us about your employees and other individuals, you confirm that you only do so provided that you have authority to act as their agent and that you have obtained any required consents. PricewaterhouseCoopers Professional Training Ltd Gala Tower, 4 Menandrou Street, CY-1066 Nicosia P O Box 21612, CY-1591 Nicosia, Cyprus T: , F: Contact person: Eleni Anthimou Tel.: Fax.: eleni.anthimou@cy.pwc.com