The Chelco VAT International Academy continues its series of high-level VAT educational events with a morning seminar focussing on the application and complexities of Value Added Tax (VAT) in the Real Estate & Construction industries.

In the current market, real estate and related services (i.e. development and construction) play a significant role. There is a significant volume of real estate related transactions and the value of such transactions grows exponentially. With VAT having an impact of up to 19% of the transaction value, it is important to know from the onset the VAT implications and obligations and avoid errors and miscalculations that could prove costly.

Chelco VAT Director and Chelco VAT International Academy instructor, Panayiotis Panayi, will examine the VAT rules and provisions that should be considered when dealing with the above matters and transactions. The seminar will discuss the national legal VAT framework for such transactions and offer guidance through examples as to how they should be treated for VAT purposes.

The seminar will cover the following matters:

  • VAT on the sale of non-developed building land;
  • VAT on long term leases;
  • VAT on rents;
  • VAT under reverse charge for article 11B services;
  • Consideration of land for other property (αντιπαροχή);
  • VAT at 5% for primary residence;
  • VAT at 5% for renovation of a primary residence;

The seminar is open to any professional with exposure to VAT matters in the real estate and construction industry such as business managers, accountants, CFOs and FCs, tax advisors, real estate agents et al.

Download the seminar brochure in EN


8:30am – 9:00am Registration & Coffee
9:00am – 9:05am Welcome Address
Panayiotis Panayi – Instructor
9:05am – 11:00am
  • VAT on the sale of non-developed building land
  • VAT on rents & long term leases
  • VAT under reverse charge for article 11B services
11:00am – 11:30am Coffee Break
11:30am – 1:30pm
  • Consideration of land for other property (αντιπαροχή)
  • VAT at 5% for primary residences & renovation of primary residences

Discussion and Questions

1:30pm End of Seminar



Panayiotis Panayi, BA, ACA
Chelco VAT Ltd


Panayiotis is an Associate Chartered Accountant (ACA) and a member of the Institute of Certified Public Accountants of Cyprus (ICPAC), with more than 10 years of experience in VAT.

He holds a Bachelor of Arts degree in Accounting and Finance from Manchester University in the UK. Panayiotis trained initially with Deloitte & Touche LLP in Manchester, and subsequently with PwC Cyprus, as a Chartered Accountant with the Institute of Chartered Accountants in England and Wales (ICAEW), before joining Chelco VAT Ltd as Senior VAT Consultant in 2014. In 2017, he was awarded the Expert in EU VAT degree, finishing first in his class.

He now works exclusively as a consultant in VAT advisory and compliance services for both local and international companies with activities in Cyprus, Europe and worldwide.

Panayiotis has authored or contributed to various articles and other publications in Cyprus and abroad on matters pertaining to Cyprus and EU indirect taxation.


Professionals dealing with VAT matters at all levels and in all industries, who would like to expand or enhance their VAT knowledge:

  • Accountants
  • Chief Accountants
  • CFOs/Financial Controllers
  • Tax Consultants
  • Tax Accountants
  • VAT Consultants
  • VAT Department Officers
  • Business Managers
  • Real Estate Agents


VAT in Real Estate & Construction

Date & Venue Limassol
Thursday, 30 May 2019, Columbia Plaza Venue Centre
Time 9:00am – 1:30pm (registration at 8:30am)
4 CPD Units (certificates of attendance will be provided)
Cost €175 + VAT
Group Discount (for 3 persons or more): 15%
Seats are limited!
Language English