The Chelco VAT International Academy launches its new series of educational events titled “VAT Workshops: Now We’re Smoking” with an open discussion on the Right to Deduct VAT on Friday, 13 December 2019 in Nicosia.



‘Now We’re Smoking’ is a hands-on series of workshops, during which participants get the chance to discuss their individual VAT problems and challenges with the Academy’s lead instructor, Alexis Tsielepis. The problems will be analysed through legislation and practical implementations of the VAT law. The discussions will be, for those who wish, paired with a fine cigar, coffee and light refreshments.

While savouring a fine blend of coffee, or spirit, and enjoying a full-bodied Habanos, Alexis and his guests will identify, examine and solve even the most demanding of VAT problems.

Participants are urged to send to Alexis their individual questions and real-life case studies ahead of time so they can be discussed and solutions can be presented during the workshop.

The ‘Now We’re Smoking’ workshops will be held at Cyprus’ premier cigar lounge, Cohiba Atmosphere Nicosia, in the heart of the capital at 25 Metochiou Street, Ayios Andreas, and participation is strictly limited to a small number of participants.



The first of the series of the ‘learn-while-you-smoke’ workshops will deal with the Right to Deduct.

The Right to Deduct is the single most important aspect of the VAT legislation. The deduction system is meant to relieve the trader entirely of the burden of the VAT payable or paid in the course of all his economic activities, provided that such activities are themselves, in principle, subject to VAT. The European Court of Justice (ECJ) has ruled time and time again that the right to deduct is a fundamental right of the taxable person and cannot be limited. However the increased complexities of the number and types of transactions that businesses undertake today can lead to errors in input VAT deductions, and disagreements with the VAT authorities, which can consequently become very expensive for the taxable person. Having a solid understanding of the deduction system is therefore paramount. This workshop provides exactly this understanding and covers actual deduction cases by the participants.

The workshop is open to any professional with exposure to VAT matters such as accountants, chief accountants, CFOs, financial controllers, tax advisors, et al. Non-smokers are welcomed if cigar smoke is not an issue for them.

Seats are extremely limited so book yours now.

Download the seminar brochure in ENGLISH




Alexis Tsielepis, BSc, FCA
Managing Director
Chelco VAT Ltd


Alexis, the Professional

Alexis is widely considered as the foremost expert on VAT in Cyprus. With close to 20 years of experience in VAT strategic consulting, he advises businesses on international VAT matters and lectures at local and international VAT conferences and schools.

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, and 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), the Vice-Chairman of the Cyprus VAT Association (CYVA) 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.


Alexis, the Cigar Aficionado

Alexis is passionate about the things in his life and cigars are no exception. He summarizes his relationship with the cigar as follows: “At the basic level, puffing away on a cigar has a calming effect on me. Another aspect is the interesting complexity that a cigar can have in the development of its taste. There is a notoriety in the image of cigars as well: Karl Marx discussed economics in cigar smoke-filled rooms into the early hours of the morning. Winston Churchill took decisions that changed the course of mankind, carrying the weight of the world on his shoulders, and a cigar in his hand. Against the backdrop of such historic figures, I humbly find myself deep in thought, examining and analysing VAT matters, accompanied by a cigar.”

In 2018 Alexis teamed up with jeweller, Raffi der Garabedian and represented Cyprus at the 1st Habanos World Challenge competition held in Cuba, where the Cyprus team won!

For Alexis, there is no perfect moment to appreciate a cigar. “It is not about the birth of a child, the big birthday, the promotion or the marriage, although these are all great reasons to light up. It can be as simple as closing one’s eyes while drawing the first smoke, allowing the flavors to whisk the mind away to other places, to other times, or to complete nothingness, so that the eyes can reopen with absolute contentment.”



The Right to Deduct VAT

Date & Venue Nicosia
Friday, 13 December 2019, Cohiba Atmosphere Nicosia
Time 9:00am – 1:00pm (registration at 8:30am)
4 CPD Units (certificates of attendance will be provided)
Cost €250 + VAT
Includes coffee (or cocktail), snacks and a cigar
Seats are very limited!
Language English