Course Details

1. Interpret the results of tax computations for individuals and companies.
2. Identify the tax system in Cyprus and compare it to the UK.
3. Construct tax computations for individuals and companies.
4. Examine computational and theoretical aspects of VAT.
5. Evaluate case study scenarios on business tax and propose tax saving schemes

Capital Gains Tax: Examine the scope of this tax. Prepare computations for the tax and recognise the administration of the tax.

Corporation tax: Construct computations involving basic aspects (such as taxable income, losses). Rental income assessments. Capital allowances.

Overview of tax system: Identify the structure of the tax system in Cyprus and compare it to the UK. Examine the roles of tax inspectors and tax collectors. Examine the issue of tax residency in Cyprus.

VAT: Evaluate the basic principles of VAT for individuals and companies. Registration and deregistration. Tax point theory. Computations of VAT.

Income tax and business tax: Assess the basic principles of income tax. Prepare income tax computations for individuals involving both basic principles and advanced aspects. Rental income assessments.

Tax planning: Applying tax planning solutions for individuals and companies concerning: corporation tax, income tax, husband   and wife cases, capital gains tax and VAT.

• BPP (2008), AIA Professional Level 2 - Paper 16: Taxation and Tax Planning, 2nd Edition, BPP Learning Materials.

• Kaplan Publishing (2010), ACCA Paper F6 Taxation, December 2009 &June 2010 Edition, Kaplan Publishing.
• Deloitte Cyprus, Cyprus Tax Facts 2011, Deloitte Cyprus.