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EU VAT e-Commerce package: Untangling the rules

13 May 2021 | 9:00 a.m. – 1:00 p.m. | 3,5 CPD

13 May 2021 | 9:00 a.m. – 1:00 p.m. | 3,5 CPD

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Webinar's overview

This is definitely a not-to-be-missed webinar. Delivered by the Head of the Indirect Tax Department of KPMG in Cyprus and his team, this webinar will update the participants on the upcoming amendments of cross border e-commerce transactions, that will come into effect on 1 July 2021. Practical examples and ways to cooperate with KPMG in Cyprus will also be presented by the trainers, who will assist the participants to better understand the changes and their impact. 

Webinar's goals

Through this webinar, the trainers aim to:

  • Present, explain and analyse the VAT e-Commerce Package ,which will apply in EU as of 1 July 2021. In particular, the following cases will be analysed:

                    a) sale of goods to EU consumers whereby goods are in the EU

                    b) sale of goods to EU consumers whereby goods are shipped from third countries

                    c) sale of goods to EU consumers via online platforms and marketplaces

                    d) B2C supplies of services within the Union

  • Answer the participants’ queries and resolve relevant problems that participants may face
  • Discuss the changes that are expected to occur in the VAT legislation, thus assisting participants in applying them as they perform their transactions. 

Participants

CFOs, financial managers, chief accountants, accountants, assistant accountants and professionals responsible for financial matters and/or the VAT treatment of a company. 

Agenda

Join the webinar (8:30 a.m. - 9:00 a.m.) *

Sessions (9:00 a.m. – 1:00 p.m. including two 15-min breaks between sessions)

1. Introduction (30 min)

  • Welcoming
  • E-commerce; changes ahead 0:30

2. Changes as of 1 July 2021 (1 hr & 45 min)

  • B2C sales of goods within the EU – current vs new rules
  • B2C sales of goods from non-EU – current vs new rules
  • B2C sales of goods through online platforms/marketplaces
  • B2C supply of services
  • Practical examples 

3. How will the changes impact your business? (1 hr)

  • Technological and business aspects
  • Issues to consider - online platforms and marketplaces
  • VAT rates within the EU
  • Working with KPMG to prepare for the changes.

4. Questions and answers (15 min)

*Note: Please join the meeting 30 minutes prior to the webinar’s start time (join at 8:30 a.m.), in order to make sure that you do not face any connection or other technical issues.

Registration

If you wish to register for the webinar, please complete the registration form.

Once your registration is submitted, you will receive an email stating the participation fee, including any discounts, if applicable. Kindly note that the payment should be settled at least two days prior to the webinar’s date for your registration to be confirmed.

If you do not receive our confirmation e-mail regarding your registration, your participation cannot be guaranteed.

Cost

Cost: €154,7 (incl. V.A.T.)*

*Last Date for 10% Early Bird Discount: 29/04/2021

 

Discounts available:

  • For more than two (3+) participants from the same company a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for participants who enrol in the same training, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
  • For individuals/legal entities who/which register in more than two (3+) trainings during the same semester (January-June & July-December), a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for individuals/legal entities who/which enrol in more than two (3+) webinars during the same semester, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
  • There is a 10% discount for alumni members. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the early Bird discount and the HRDA subsidy, when applicable.
  • There is a 10% Early bird discount on selected trainings for participants who enrol in a training course until a specific date which is stated above. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the HRDA subsidy, when applicable.
  • HRDA subsidy for all HRDA approved trainings.

Contact

For any queries, please contact Irini Avraam on +357 22 207 460 or at academy@kpmg.com.cy.

CPD: This webinar may contribute to Continuing Professional Development requirements. Shortly after the webinar’s date, participants will receive electronically a certificate of attendance confirming the total number of training hours (3,5 CPD).

Trainers

Michalis Grekas
Board Member, Indirect Tax, KPMG in Cyprus

Michael is a Board Member and leads the Indirect Tax function and the Tax Technology development team at KPMG. He has extensive experience in Cypriot and European VAT legislation, EU VAT matters and decisions of the European Court of Justice (ECJ).

Michael has provided professional services to several large both multinational and local enterprises of various sectors, focusing on the financial services and real estate industries. He has provided indirect tax advisory services to several financial and payment institutions, Cypriot investment firms, UCITS, AIFs and real estate companies.

He is also a Member of the VAT committee of ICPAC (Institute of Certified Public Accountants of Cyprus). Michael was involved in various projects concerning VAT automation solutions and assists in the VAT coding design and implementation.

Michael is the instructor in various KPMG training courses, presenter for various KPMG seminars and author of indirect tax publications. In 2015, Michael was certified by the HRDA as a “Trainer of Vocational Training”.

 

Lagou Mundi Irene
Senior Manager, Indirect Tax, KPMG in Cyprus

Irene is a Senior Manager with a legal background and a holder of an MBA.

During her 16-year experience, Irene provided VAT advisory services to an extensive portfolio of local and international clients regarding their indirect tax affairs, based on the provisions of the Cyprus VAT Act and accompanying regulations, as well as the EU VAT Directive and decisions of the European Court of Justice and the Cyprus High Court.

Irene assists external lawyers in relation to the preparation of appeals before the Cyprus High Court, against decisions of the Cyprus Tax Commissioner on VAT issues. She also analyses issues of indirect tax policy and the impact of EU developments on Cypriot taxpayers and liaises with both Cyprus VAT Authorities and Customs and Excise Department regarding the proper interpretation of the VAT and Customs Legislation.

Irene has numerous publications both in local and international media. Furthermore, she presents indirect tax seminars organised both internally and externally. In 2015, Irene was certified by the HRDA as a “Trainer of Vocational Training”.

 

Georgiou Phanos
Senior Manager, Indirect Tax Services, KPMG Cyprus

Phanos is a Senior Manager at KPMG’s Indirect Tax Department with extensive experience in Cypriot and European VAT legislation.

Phanos provides professional services to several large multinational and local enterprises in various industry sectors since 2011 with focus on financial services, real estate, restaurant and tourism.

He was also involved in various projects concerning VAT automation solutions and assists in software VAT coding design and implementation. Furthermore, Phanos provided consulting services to large corporate groups established in the United Arab Emirates in view of the VAT implementation back in 2018.

In addition, Phanos has been a presenter in various VAT training courses to clients and the professional staff of KPMG.

Hadjikleovoulou Alexis
Manager, Indirect Tax Services, KPMG in Cyprus

Alexis completed his bachelor’s degree in Economics at the University of Cyprus and holds ACCA and ADIT certifications with specialisation in EU VAT Directive. He was also accredited with the Certificate of VAT Compliance (UK syllabus) from the Association of Taxation of Technicians.

From 2012 to 2014 he was working in the Indirect Tax department of a Big 4 firm, where he gained experience in providing VAT advisory services to local and multinational corporations.

Since 2015, Alexis joined the Indirect Tax Department of KPMG in Cyprus - Limassol office, providing VAT advisory services to major portfolio clients in the shipping, financing, real estate and e-commerce sectors.

Alexis attended various international training sessions organised by the Tax Business School of KPMG. Additionally, Alexis is an instructor/facilitator for many internal and external KPMG Indirect Tax Seminars. In 2020, he was certified by the HRDA as a” Trainer of Vocational Training”.

Moreover, he currently serves as the Vice President of Junior Chamber International (JCI) – a global non-profit organisation in the Cyprus chapter.



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