Well-known Cypriot VAT consultant, Alexis Tsielepis, joins forces with renowned German VAT expert, Dr. Volker M. Jorczyk, to deliver two unique seminars on the treatment of indirect tax for Tour Operators as well as for Hotels & Event Organisers, respectively.
Dr. Jorczyk has over 20 years of hands-on experience on VAT matters related to the Tour Operators Margin Scheme (TOMS) and the Leisure Industry in general.
The two high-level seminars will be held in the morning and afternoon of Friday, 31 March 2017 in Limassol, and are described as essential for accountants, chief accountants, financial controllers, tax consultants and VAT officers working in or with the leisure industry.
Interested professionals can attend either seminar or both.
Tour Operators: A Journey into TOMS and Travel VAT (Morning seminar)
Although made up of only a few articles in the VAT legislation, the special Tour Operators Margin Scheme (TOMS) for VAT has been interpreted differently across the EU. To offer participants an unprecedented understanding of the scheme, Alexis Tsielepis has invited and will be joined by one of Europe’s most proficient and experienced consultants on TOMS, Dr. Volker M. Jorczyk, to simplify the complications. With over two decades of TOMS-dedicated experience, the German expert will analyse TOMS in detail, providing examples of how it works, explaining how the scheme applies to business-to-business (B2B) transactions and much more. The VAT expert duo are expected to deliver an unprecedented seminar, the level and depth of which has never been experienced before in Cyprus.
Hotels and Event Organisers: A 5-star Understanding of VAT (Afternoon seminar)
The hotel industry is one of the most important sectors of Cyprus’ economy, with the organisation of conferences and other events being a significant aspect of the industry. There are many VAT pitfalls that should be avoided in both cases, and there are certainly many things to take on board before undertaking a proper VAT strategy and plan. Tsielepis and Dr. Jorczyk will jointly decipher this ‘busy’ area of VAT legislation, and explain the relevant legislation and VAT planning opportunities, with reference to relevant important decisions of the Court of Justice of the European Union (CJEU).
Both seminars will have a direct impact on the everyday practices followed by professionals dealing with VAT matters in the travel, leisure and event organisation industry and will help build up and enhance current knowledge.
The ‘Tour Operators: A Journey into TOMS and Travel VAT’ seminar will cover:
- Basics on an EU level – Articles 306-310 of VAT Directive
- Single transaction and the Tour Operators Margin Scheme (TOMS)
- TOMS vs. normal VAT re: own travel means
- Practical examples of how TOMS works
- Single vs. global margin
- Reverse charge traps in Germany
- An explanation of the term ‘customers’, the different interpretations across Member States, including Cyprus, as well as Court of Justice of the EU (CJEU) jurisprudence
- TOMS in B2B transactions
- EU TOMS Study – The future of Travel VAT (B2B – TOMS, MOSS et. al.)
The ‘Hotels and Event Organisers: A 5-star Understanding of VAT’ seminar will cover:
- VAT in Hotel Accommodation:
- Treatment of prepayments and cancellations
- Treatment of VAT for allotment and commitment payments
- Catering and input VAT considerations
- Marketing income from advertising
- Marketing expenses
- Treatment of ‘tips’
- Treatment of commission payments to agents including prepayments received from them as financial assistance
- Restaurant, cafes, bar and mini-bar income
- Renovation expenses and self-supply in Cyprus
- Free offerings – complimentary
- Treatment of vouchers
- All-inclusive packages
- VAT in Event Organisation:
- A review of the legislation for B2B and B2C services
- The importance of the term ‘admission’ for pre-registration participation
- Explanation of the difference in the term ‘participant’
- Practical examples of VAT for the organisation of training, seminars, conference or exhibitions
- ECJ jurisprudence on complex supplies (e.g. Bastova)
Download the seminar brochure HERE
Dr. Volker M. Jorczyk, Dipl-Finw, RA, StB
TTL – Tourism Tax & Law Rechtsanwaltsgesellschaft mbH
M: +49 151 58409977
F: +49 221 97312439
Dr. Volker Jorczyk
Dr. Volker Jorczyk, a certified tax official, an attorney-at-law and a tax advisor, started his professional career with the German tax authorities in 1984. From 1997 to 2011, subsequent to his law studies at Ruhr-University Bochum, he led the travel industry international tax consulting branch of PwC’s newly-established Center of Competence “Tourism and Taxes”.
In July 2011, he set up his own professional practice, the TTL Tourism Tax & Law Rechtsanwaltsgesellschaft mbH (TTL), a VAT-dedicated firm dealing exclusively with travel agencies, tour operators, incentive and event agencies, consolidators, airlines, cruise lines, ferries, coach operators, hotels and other travel-related enterprises.
Volker advises tour operators, wholesalers, travel agencies, airlines, (river) cruise lines, hotels, incentive agencies, consolidators and other enterprises of the tourism trade as well as associations in national and international VAT matters for nearly 20 years. His main focus is the Special Scheme for Travel Agents (TOMS) and other tourism trade related VAT matters, e. g. the place of supply rules.
He works closely with various associations on industry-related VAT topics on an EU level. Furthermore, Volker is Head of the Fiscal Committee of the International Package Operators Association (VPR), as well as member of the fiscal committee of the German Travel Association (DRV).
He regularly publishes articles on fiscal issues with relevance to the tourism industry in professional tax journals and is also a lecturer in tourism tax law at the ISM International School of Management as well as the Ascenso Akademie für Business und Medien.
Volker has been instrumental in the past few years in establishing TTL Net, a network of VAT advisors who specialise in the travel sector. TTL Net is now a thriving group of consultants in most EU member states and several others.
Alexis Tsielepis, BSc (1st), FCA
Managing Director, Chelco VAT Ltd
T: +357 25871200
F: +357 25871220
Alexis Tsielepis is widely considered as the foremost expert on VAT in Cyprus. With close to 15 years of experience in VAT strategic consulting, he advises businesses on international VAT matters and lectures at local and international VAT conferences.
Alexis acts as an integral part of multi-jurisdictional teams of advisors on cross-border mergers, acquisitions and reorganizations. He possesses a solid understanding of international tax planning, double-tax treaties, the VAT Directive and Trust legislation. He 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).
In 2012 he founded Chelco VAT Ltd, the only dedicated VAT company in Cyprus, and in 2016 the firm’s educational arm, the Chelco VAT International Academy. Through Chelco VAT, Alexis offers to both businesses and professional associates, advice on how VAT is implemented, assistance with VAT investigations, objections and court proceedings, as well as adherence to substantive and formal obligations of the VAT legislation. Through this international network, Alexis can draw on support to advise on VAT implications of cross-border and international transactions and structures.
Alexis 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 administration 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”.
Education & Qualifications
Alexis holds a First Class Honours BSc Degree in Economics and Accounting with studies in Continental Europe from the University of Bristol, UK. He 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.
WHO SHOULD ATTEND:
Professionals dealing with VAT matters in the travel, leisure and event organisation industry at all levels who would like to expand or enhance their VAT knowledge:
- Chief accountants
- Financial Controllers
- Tax consultants
- Tax accountants
- VAT Department officers
WHAT, WHEN, WHERE & HOW MUCH?
|What, When, Where||Tour Operators: A Journey into TOMS and Travel VAT
9:00am – 12:45pm (Registration at 8.30am)
Friday, 31 March 2017, Columbia Plaza
3 CPD Units (certificates of attendance will be provided)
Hotels and Event Organisers: A 5-star Understanding of VAT
|Cost||€130 + VAT per seminar
30% discount for attending both seminars