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€240
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Fintech and the Cyprus Tax System
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Highlights
Live Online
7 CPD Units | 7 Hours
The EIMF Live Online Learning Experience
Participants will receive access to the recorded sessions of the course.
EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Course Overview
As FinTech investments can give rise to a range of taxation issues and opportunities it is important that tax is considered up-front as part of the FinTech strategy. Although not originally designed with FinTech companies in mind, even today, it is often necessary to apply “old world” tax law to the new world economic and business models that arise in a FinTech context.
In addition to managing tax risks, avoiding double taxation, and establishing your FinTech investments in a tax-efficient way, it is also important to be aware of the changes to the international tax system and how intellectual property and cross-border technology-related business models are taxed.
The aim of the seminar is to train participants on the basic principles of the Cyprus Tax Legislation and the more specific aspects of the Cyprus tax system for Fintech business. In addition, the seminar aims to provide, through practical examples, a detailed analysis of the corporation tax and VAT benefits and considerations of the Cyprus tax system applicable to Fintech businesses.
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.
Facilitators
Marios Mortis
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Marios Mortis holds a Bachelor's degree in Business Administration with a focus on Accounting, as well as a Master's degree in Banking and Finance. He is a qualified member of the Association of Certified Chartered Accountants (ACCA). Marios has accumulated valuable experience working in various positions and companies within Cyprus's accounting, audit, advisory, assurance, and banking sectors. In the past seven years, Marios has embarked on a new and fulfilling career path in the field of education, which he finds both challenging and fascinating. He served as a Visitor Academic at a local university in Cyprus, where he taught several courses, including corporate governance and business ethics, corporate finance, corporate risk management, and audit and assurance. Currently, Marios holds the position of Trainer and Accountancy Programmes Leader at EIMF (European Institute of Management and Finance). In this role, he oversees the management of both professional and academic accounting and finance programmes. Marios has successfully designed and delivered professional training courses covering topics such as corporate reporting, tax, AML (Anti-Money Laundering), funds, forensic accounting, financial analysis, auditing, and financial workshops. Furthermore, Marios is entrusted with leading the Department of Accounting & Finance within EIMF's Academic School. He actively engages in research within the domains of finance and accounting, contributing to both academic and professional endeavors in these fields.
Frequently Asked Questions
When will I receive my invoice?
The invoice is issued on the day the course starts.
What payment methods are accepted?
Payments can be made by bank transfer, cheque, or credit card.
When will my certificate be issued?
Certificates are issued within 7–10 days after the course has been completed, provided that the invoice has been paid.
How can I access my certificate?
Once your certificate has been issued, you will receive an automated email from Cademy notifying you that it is available.
Click the Get Your Certificate button in the email to download your certificate.
You can also access it from your Cademy account:
- Log in to your Cademy account from https://cademy.io
- Click on My Account from the top-right corner.
- From the drop-down menu select My Courses and Bookings.
- Choose the relevant course.
- Under Participants, click the three dots located next to your name.
- Select Get Certificate.
Where can I access the course material?
To access the course materials, such as presentations and recordings:
- Log in to your Cademy account from https://cademy.io
- Click on My Account from the top-right corner.
- From the drop-down menu select My Courses and Bookings.
- Choose the relevant course.
- Under Extra Details, you will find all the available course materials.