Course Details

1. Interpret the results of advanced tax computations for individuals and companies and express in report or letter format.
2. Identify the principles underlying personal financial management.
3. Construct advanced personal and corporate tax computations in the areas of corporation tax, capital gains tax, income tax, social contributions and VAT.
4. Examine computational and theoretical aspects of immoveable property tax and special defence contribution liabilities.
5. Evaluate overseas and group aspects involving the interaction of taxes and propose tax saving schemes.

Corporation tax: Construct computations involving basic and advanced aspects (such as groups and overseas tax).

Overseas tax: Distinguish between unilateral and double tax relief. Prepare tax computations involving individuals and companies involving overseas aspects and consider tax planning aspects.

Immoveable Property tax: Examine the scope of this tax. Prepare computations for immoveable property tax and recognise the administration of the tax.

Special Defence Contributions: Examine the scope of this tax. Prepare computations for these contributions and recognise the administration of the tax. Examine its role in tax planning especially in the case of deemed distributions.

Personal Financial Management: Identify and apply personal financial management principles.

Capital Gains Tax: Examine the scope of this tax. Prepare computations for the tax and recognise the administration of the tax. Examine aspects of capital gains tax in the areas such as gifts, inheriting property, exchanging property etc. Produce solutions to minimising tax using available tax reliefs.

VAT: Evaluate the basic principles of VAT for groups and divisions. Identify the rules on advanced aspects of VAT such as: the supply of land and buildings; supplies within the EU; imports and exports etc.

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

Tax planning: Applying tax planning solutions for individuals and companies concerning: corporation tax, income tax, special defence contributions, social contributions and VAT.

• Savvides S (latest edition), Advanced Taxation (Cyprus) (P6) Textbook, CTR Publications.

• BPP (2008), AIA Professional Level 2 - Paper 16: Taxation and Tax Planning, 2nd Edition, BPP Learning Materials.
• Melville A (2010) Taxation Finance Act, 2011 edition, Financial Times/ Prentice Hall.
• Kaplan Publishing (2010), ACCA Paper P6 Advanced Taxation, December 2009 &June 2010 Edition, Kaplan Publishing.
• Deloitte Cyprus, Cyprus Tax Facts 2011, Deloitte Cyprus.

The taught part of course is delivered to the students by means of lectures. Lecture notes and presentations are available through the web for students to use in combination with the textbooks. Lectures are supplemented with class exercises carried out in class and via homework. The students will be asked to complete an assignment during the course.