VAT Seminar by EY Cyprus: Walking Through Practicalities of VAT on Building Land and Immovable Prope

Further to the successful completion of the first series of seminars and the publication of relevant official (and revised) Tax Department Circulars, EY Cyprus is happy to announce the presentation of a further interactive session on the implementation of the recently amended VAT legislation in Cyprus, namely Walking Through Practicalities of VAT on Building Land and Immovable Property Leasing.

VAT Treatment of leasing immovable property (rents) is different from 13 November 2017 and transfer of non-developed building land taxation has drastically changed as from 2 January 2018. The Cyprus House of Parliament and Tax Department have released Regulations and Circulars respectively, clarifying the applicability of VAT imposition on non-developed land as well as on commercial rents taxation with our seminar aiming to throw light upon those VAT updates.

During the session, the Tax Department Circulars as well as the new Regulations will be analysed from a tax practical and legal angle with a focus on how compliance and optimisation can be achieved by affected parties. Expected practical scenarios will be highlighted and participants will be asked to decide in class what will be the VAT treatment in short case studies.

Who should attend:

The seminar is addressed to all those looking to adapt their knowledge on VAT aspects relating to transfers of land and leasing influenced by the amending legislation, including those professionals, e.g. accountants, lawyers, property developers – valuers and financial controllers as well as entrepreneurs who handle immovable property transactions.