Tuesday, 18 February 2025
Hilton Nicosia Hotel
Introduction
The Cyprus International Tax Conference stands out as a pivotal event for tax professionals in Cyprus, especially as 2025 promises to be a landmark year with the upcoming Cyprus tax reform nearing its final stages. This year, the first part of the Conference will delve into the upcoming reform’s implications, examining how it aligns with broader EU and international tax trends that are reshaping global tax policies. The second part of the Conference will shed light on international tax matters affecting the global and EU tax landscape.The conference will bring together leading experts to discuss how the Cyprus tax reform, along with significant international developments, is set to reshape Cyprus’ tax legislation and practices. Distinguished speakers from Cyprus and abroad—including policymakers, tax practitioners, and industry leaders—will provide valuable insights into the dynamic landscape of international tax and its implications for Cyprus.
The Conference at a Glance
This year, the Conference will focus on critical topics such as:
• Cyprus Tax Reform in Focus: Given the tax reform’s near-finalization, multiple sessions on this topic will provide an overview of its proposed changes, anticipated effects on businesses, and strategic approaches for maximizing compliance and competitiveness within Cyprus’ evolving tax landscape.
• OECD Pillar 2 Implementation: Exploring how Cyprus is preparing to adapt to the global minimum tax under the OECD’s Pillar 2 framework, addressing compliance challenges and the impact on multinational corporations operating within the island.
• ATAD 3 and the EU’s Anti-Tax Avoidance Initiatives: A detailed examination of the Unshell Directive, with insights into how these regulations will affect corporate structuring and reporting obligations in Cyprus.
• Practical Implementation of Transfer Pricing Rules: This session will cover the ongoing challenges in transfer pricing, discussing best practices and practical approaches to implementation, common issues that arise, and strategies for effective compliance with local and international requirements.
• VAT Strategies for Evolving Business Models: Digital Goods, Services, and Beyond: This session will focus on important VAT developments and VAT strategies that align with modern digital business models, including virtual goods and services, digital subscriptions, and cloud-based services.
Audience
The conference is addressed to professionals and more specifically senior executives from the tax and legal departments of the following:
• Accounting, Audit and Tax Firms
• Banks and other Financial Institutions
• Law Firms and Legal Consultants
• Investment Firms
• Trust Service Providers
• Wealth Management Firms
• Corporate Service Providers
• Relevant Governmental Authorities
• Local and European Regulatory Bodies
• CFOs from large corporations from all sectors of economic activity
Organiser
Organiser
Preliminary Topics
Opening Remarks by the Chairperson of the Conference
Kyriakos Iordanou, General Manager, Institute of Certified Public Accountants of Cyprus
THE CYPRUS TAX REFORM IN FOCUS
Keynote Address: The Cyprus Tax Reform's Role in Economic Growth and Competitiveness
Keynote Address: Implications and Compliance under the New Tax Framework
Keynote Address: A New Era for Cyprus Taxation: Opportunities and Challenges for the Professional Services Sector
Keynote Address: The Key Elements of the Tax Reform
Keynote Address: The Economic Impact and Implications of the Cyprus Tax Reform
Panel Discussion: The Path to the Tax Reform and the Future Ahead
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Challenges overcome in the tax reform journey
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How the new tax system will impact business and the economy?
Panelists:
Costas Markides, Tax Expert, Project Advisory Committee of the Cyprus Tax Reform
Panel Discussion: Key Stakeholders Discuss the Cyprus Tax Reform
Panelists will discuss the anticipated impacts of the Cyprus tax reform on business, innovation, and the wider economic landscape, exploring how the changes can support growth and competitiveness.
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Business Needs in the New Tax Landscape
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Impact on Innovation and Technology
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Aligning Tax Policy with Long-term Economic Goals
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Resolving practical problems of the current tax system
Panel Discussion: Industry Perspectives on Tax Reform – Key Needs and Concerns
This panel will feature insights from the representatives of different sectors in Cyprus, who will discuss the anticipated impacts of the upcoming tax reform on their respective sectors, addressing specific challenges and priorities unique to each industry.
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Sector-Specific Priorities in Tax Reform
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Current Tax Challenges for Cypriot Industries
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Implications of the Reform for Competitiveness and Investment
INTERNATIONAL TAX DEVELOPMENTS
Navigating OECD Pillar 2 – Implementing the Global Minimum Tax
Application of Pillar Two to International Tax Planning Structures and substance requirements
Christos A. Theophilou, International Tax & Transfer Pricing Partner, Taxand Cyprus
The impact of ATAD 3 in Cyprus: – How the unshell directive will transform tax and business practices
Iacovos Themistocleous, Senior Tax Manager & Board Member, RSM Cyprus
Keynote Address: Τhe practical Implementation of Transfer Pricing Rules
Panel Discussion: TP experts Discuss the practical Implementation of Transfer Pricing Rules
A session on transfer pricing rules, focusing on implementation and best practices in Cyprus.
Focus Topics:
Challenges in transfer pricing application.
Guidance on documentation, benchmarking, and dispute resolution.
Strategies to meet compliance standards.
VAT Strategies for Evolving Business Models: Digital Goods, Services, and Beyond
This session will focus on important VAT developments and VAT strategies that align with modern digital business models, including virtual goods and services, digital subscriptions, and cloud-based services.
Focus Topics:
• Understanding VAT for non-traditional digital goods and services.
• Approaches to manage VAT on subscription-based and SaaS business models.
• Future implications of EU VAT reform for digital businesses.
