Course Details

1. Explaining how to minimise or defer tax liabilities through the use of standard tax planning measures
2. Identify the principles underlying personal financial management for companies.
3. Propose solutions to clients on tax issues that are based supporting computations and their interpretation.
4. Examine computational and theoretical aspects of stamp duty and transfer fees
5. Evaluate the impact of relevant taxes on various situations and the proposal of alternative ways to minimise tax liabilities.

Introduction to computer organization and architecture: Instruction cycle and flow of information at the register level. Instruction Set Architectures, instruction formats and instruction decoding. Relation between machine language, assembly language and high level languages.

Corporation tax: Computations involving basic and advanced aspects (such as groups and overseas tax). Computations for special purpose enterprises (e.g. investment companies, insurance, shipping etc). Examine the tax effects on distributions to shareholders after a winding up has concerned.

Connected persons - Understand the arms length principle and its tax implications. Prepare tax computations involving companies controlled by five or fewer persons. Examine the tax implications of director loans.

Stamp duty: Scope, exemptions, computations and administration of the tax. Examine its role in tax planning.

Transfer tax: Scope, exemptions, computations and administration of the tax. Examine its role in tax planning.

Corporate Financial Management: Understanding and application of corporate financial management principles.

Capital Gains Tax: Scope, computations and administration of the tax. Examine the capital gains tax with areas such as connected persons. Provide solutions to minimising tax using available tax reliefs.

VAT: Basic principles, 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: Understand the basic principles of income tax. Prepare income tax computations for individuals involving both basic principles and advanced aspects.

Tax planning: Tax planning for individuals 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.