THE VAT REVERSE CHARGE MECHANISM
The Chelco VAT International Academy through its Lead Instructor, Alexis Tsielepis, continues its series of high-level VAT educational events with a morning seminar focussing on the mechanics of the Reverse Charge Mechanism.
The reverse charge has very recently come into greater prominence with the addition of the new Article 11E in the island’s recently amended VAT legislation. Effective as from 1 October of this year, this article imposes the application of the reverse charge on domestic supplies of certain IT equipment.
The importance of the reverse charge is manifested in new severe penalties that will come into force as of 1 July 2021, in cases where the mechanism is not correctly applied. So businesses must get it right, now!
For this reason, Alexis Tsielepis will revisit this topic of the reverse charge mechanism as it applies to the Cyprus VAT legislation, explicate its meaning, elaborate on its applications and pack it with as many practical examples as possible.
The seminar is open to any professional with exposure to VAT matters under the following scenarios:
- The purpose of the reverse charge;
- The workings of the mechanism;
- Applying the reverse charge to domestic transactions including, but not limited to, the constructions industry (Article 11B) and certain IT equipment (Article 11E);
- The review of the guidance issued by the Department of Taxation on the application of the domestic reverse charge;
- The reverse charge and the intra-community trade of goods;
- The reverse charge and the receipt of services from abroad;
- An explanation of the upcoming new penalties relating to the reverse charge.
Due to social distancing and the latest Covid-19 health & safety regulations that will be strictly enforced at the seminar, seats are limited!
Download the seminar brochure in English
Agenda
Welcome Address
Alexis Tsielepis – Instructor
- The purpose of the reverse charge
- The workings of the mechanism
- Applying the reverse charge to domestic transactions including, but not limited to, the constructions industry (Article 11B) and certain IT equipment (Article 11E)
- The review of the guidance issued by the Department of Taxation on the application of the domestic reverse charge
Coffee Break
- The reverse charge and the intra-community trade of goods;
- The reverse charge and the receipt of services from abroad;
- An explanation of the upcoming new penalties relating to the reverse charge
Discussion and Questions
End of Seminar
The Instructor
Alexis Tsielepis, BSc, FCA
Managing Director
Chelco VAT Ltd
E-mail: [email protected]
Alexis is widely considered as the foremost expert on VAT in Cyprus. With more than 15 years of experience in VAT strategic consulting, he advises businesses on international VAT matters and lectures at local and international VAT conferences.
Alexis possesses an extensive vocational and educational experience in European VAT and a detailed comprehension of EU VAT matters and decisions of the European Court of Justice (ECJ). He sits on various committees charged with tax matters, including the VAT Committee of ICPAC, on which he has held various positions, including Vice-President. His work includes liaising with the Cyprus tax authorities and government on policy making.
He has written a number of tax syllabuses, chapters and articles on matters pertaining to Cyprus and EU VAT. He is the author of the book “An in-depth analysis of the Fixed Establishment concept and a comparison with the Permanent Establishment concept”.
Alexis is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), and holds the Expert in European Value Added Tax Degree, which he earned with the highest grade ever awarded in the history of the coveted diploma. He is now a Partner and a Director of the VAT Forum and teaches at various international VAT schools.
Alexis is sharing his knowledge on VAT, in a series of seminars and workshops organised by the Chelco VAT International Academy, covering an array of VAT-dedicated topics.
Who Should Attend?
When, Where & How Much?
Limassol
Friday, 30 October 2020, Columbia Plaza Venue Centre
9:00am – 1:00pm (registration at 8:30am)
4 CPD Units (certificates of attendance will be provided)
€175 + VAT
Group Discount (for 3 persons or more): 15%
Due to Covid-19 health & safety regulations, seats are limited!
English