The 5th Cyprus International Tax Conference is considered one of the most important gatherings for tax professionals in Cyprus. Once again, the most critical tax developments will come under the spotlight, both at a European and international level. This year, distinguished speakers from the private and public sectors and policymakers will share insights on recent tax decisions and updates. At the same time, the conference attendees will have the chance to question the speakers and network with tax expert professionals and other significant executives of the finance and professional services sector in Cyprus.
Date: Tuesday, 15 March 2022 | 08:30
Venue: Hilton Nicosia Hotel
General Manager, Institute of Certified Public Accountants of Cyprus
Kyriakos Iordanou is the General Manager of the Institute of Certified Public Accountants of Cyprus (ICPAC) since January 2012. He has been actively involved with the Institute for many years, serving as a Council member between 2002 to 2011, and holding the position of the Vice President for the period 2009-2011. Kyriakos’ professional career began in January 1995 in the banking sector and spanned as a financial controller in public and private companies, as well as a financial and business advisor to firms in Cyprus and abroad until 2004. He then worked for the Human Resource Development Authority of Cyprus, initially as the chief accountant and then as the internal auditor from 2004 until the end of 2011. He also served as a council member of the Cyprus Institute of Internal Auditors (2006-2011). Kyriakos is a member of ICPAC and qualified as an ACCA in 1997 and is a Fellow since 2002. He is also a member of the Chartered Institute of Public Finance and Accountancy (CPFA) and a Fellow member of the Institute of Chartered Secretaries and Administrators (FCIS). In addition, he is a Certified Internal Auditor (CIA) and a member of the Chartered Institute of Marketing (MCIM). Kyriakos is a holder of a Master’s in Business Administration degree (MBA). In 2019, Kyriakos was elected as the President of the Parallel Parliament for Research, Innovation and Digital Governance, a position still held to date.
President of Institute of Certified Public Accountants of Cyprus (ICPAC)
Pieris Markou is the CEO of Deloitte in Cyprus and a member of the Deloitte Middle East Executive Board, having previously served as the Tax & Legal Services Leader. He started his career in London in 1986 and was admitted to Partnership in Chrysanthou and Christoforou (Andersen) in 2000. He is currently the President of the Institute of Certified Public Accountants of Cyprus (ICPAC) and a member of the ICPAC Council since 2014 having previously assumed many professional roles within ICPAC, including Vice Chairman and Chairman of the Tax and VAT Committees. Pieris is also a board member of the Nicosia Chamber of Commerce & Industry. Pieris holds a B.A. (Hons) degree in Accounting, is a fellow member of the Institute of Chartered Accountants in England and Wales, and is a member of the Chartered Institute of Taxation.
Chairman, Council of Economy and Competitiveness
Takis Klerides is a Fellow of the Association of Chartered Certified Accountants of the UK and a member of the Institute of Certified Public Accountants of Cyprus. He worked in the UK and Greece and from 1981 to 1999 he was a partner of KPMG with specialisation, amongst others, in banking, finance and insurance. He was appointed Minister of Finance of the Republic of Cyprus from 1999 to 2003. As a Minister of Finance, he had a decisive role in Cyprus accession to the EU and the harmonisation of Cyprus legislation in two important chapters, the ones of Competition and Taxation. He introduced a major tax reform in 2001, the positive effects of which continue to be enjoyed until today. In July 2018 he was appointed as the first Chairman of the Council of Economy and Competitiveness, a post he was reappointed for further 3 years in July 2021. He is a Board Member of International companies in shipping, insurance and private equity funds. He was the Chairman of the Cyprus Basketball Federation (1988-1998), a member of the Executive Council of the Cyprus Olympic Committee (COC) and lately as Honorary member of the Council of the COC. He is the Vice-chairman of the Karaiskakio Foundation, a non-profit organisation for haematological patients and the Bone Marrow Donor Registry and the Treasurer of the Cyprus Cancer Research Institute, another non-profit organisation involved in cancer research.
President of the Cyprus Chamber of Commerce and Industry
Christodoulos E. Angastiniotis studied Business Management & Management Sciences in the UK and he holds a postgraduate degree MSc in Management from Cranfield University. Christodoulos E. Angastiniotis is the CEO and Managing Director of the VitaTrace Nutrition Ltd Group which is a Veterinary Nutritional and Pharmaceutical company with operations in Cyprus and internationally. He is currently the President of the Cyprus Chamber of Commerce & Industry (2017-2023). He is an exceptionally active businessman with a very significant social contribution. He has also served as President of the Cyprus Investment Promotion Agency (CIPA) (2011-2018), Vice President of the Cyprus Chamber of Commerce & Industry (2011-2017), President of the Pancyprian Association of Veterinary Medicines (2007-2013), President of the Nicosia Tourist Development (2005-2014), President of the Nicosia Chamber of Commerce & Industry (2005-2011), Founder President and Honorary President of the Cyprus Egypt Business Association, Member of the Board of Institute of Technology Cyprus, Member of the Board of the Wealth fare of Prisoners and Member of the Board Human Resources Development Authority. In 2010 he was awarded by the Ministry of Finance of the Republic of Cyprus and the Cyprus Standards Authority the highest quality award for his exceptional contribution in upgrading quality in Cyprus. He participated in many economic-financial and business promotion seminars abroad where he presented a number of papers on the role of Cyprus as a Regional Financial and Commercial Center.
Director Direct Taxation, Tax Coordination, Economic Analysis and Evaluation, European Commission
Benjamin Angel has joined the European Commission in 1994. His experience mixes posts in the cabinets of the European Commissioners for economic and monetary affairs (Yves-Thibault de Silguy, Pedro Solbes and Joaquin Almunia) with positions in the services in charge of economic and financial affairs. He has inter alia been Director of the Treasury, acting Director for the economies of the Member States and has been in charge of launching a number of key initiatives (creation of the ESM, EFSM, EFSF, ESRB, Juncker Plan…). He has held previously a number of Heads of unit position on EMU and banking issues (working notably on the banking union and the financial aspects of the euro area crisis). He is currently Director for direct taxation, tax coordination and economic analysis. He graduated from HEC Paris (business and finance), Sciences-Po Paris (economics and public affairs) and holds a master’s degree in political science and a PhD in law.
Head of the Advanced Tax Rulings Unit (Direct Taxation), Tax Department, Ministry of Finance.
Stavroula Vrasida is a Member of the Institute of Chartered Accountants in England & Wales (ACA), a Fellow of the Chartered Association of Certified Accountants (FCCA) and holds the Advanced Diploma in International Tax (ADIT - Chartered Institute of Taxation (CIOT)). She is an Appointed Member of the ACCA Advisory Committee in Cyprus, an Appointed Member of the International Business Structuring Association (IBSA) Cyprus Branch Committee, and was an Appointed Member of the Regulatory Committee of the Institute of Certified Public Accountants of Cyprus (ICPAC) between 1/1/2014 – 1/1/2016.
Director, Tax Services & Regional Coordinator, Baker Tilly South East Europe
Savvas holds the position of the Director in the Tax Services department and is the Regional Coordinator for Baker Tilly South East Europe. He is a member of the Institute of Chartered Accountants in England and Wales (ICAEW). He holds a BSc in Accounting and Business Management from the University of Westminster, UK. He is a member of the Institute of Certified Public Accountants of Cyprus (ICPAC) and a member of the Institutes Tax Compliance Committee and has served as a member of the International Operations and Foreign Investments Committee between 2016-2019. He is Hon. Treasurer of the Board of Directors of the American Chamber of Commerce in Cyprus where he has been a member of the Board of Directors since 2016. Savvas is president of the Cyprus-Spain Business Association (under the Cyprus Chamber of Commerce and Industry) and member of the EMEA Regional Advisory Council of Baker Tilly International.
Board Member, International Tax Services, KPMG Limited Cyprus
Costas Markides is a Member of the American Institute of Certified Public Accountants (AICPA) and a Member of the Institute of Certified Public Accountants of Cyprus (ICPAC). He is also a Member of the Tax Policy and Strategy committee of ICPAC and a Member of the advisory team supporting the Ministry of Finance during tax treaty negotiations. He is the president of the Cyprus/Kazakhstan business association operating under the auspices of the Cyprus Chamber of Commerce and Industry. Costas is heading the International Tax practice of KPMG in Cyprus. He is a frequent speaker on topics related to International Tax and has published many articles on the subject, in Cyprus and the US.
Partner International Tax, NSS Tax Management & Consulting
Neofytos is a Fellow Chartered Accountant (FCA) and a member of the Institute of Certified Public Accountants of Cyprus (ICPAC). He has 45 years’ professional experience in international tax planning, on structuring operations for clients in the banking and financial industry, the oil and gas industry, the construction and hotel industry, the manufacturing and service industries and his clients included major local and international groups. Neofytos is teaching on international taxation issues, with particular emphasis on substance, transparency and exchange of information. For many years he is acting as a special advisor to the Cypriot Ministers of Finance on double tax treaties and exchange of information issues.
Partner, Tax and Law Leader, Tax Services, EY Cyprus
Philippos is the Head of Tax and Legal Services of EY in Cyprus. He joined EY in 2008 after serving for 10 years in a senior position with the Cyprus Tax Department and has experience in all areas of the Cyprus tax legislation and tax controversy. Philippos is a qualified Certified Accountant and holds a Bachelor’s Degree in Accounting & Finance. He is a member of the Institute of Certified Public Accountants of Cyprus (ICPAC), the Tax Policy Committee of ICPAC, and the Cyprus Treaty Negotiation Team. Moreover, he is skilled in both local and international taxation, specifically in advising clients on tax legislation, tax due diligence, tax controversies, international tax advisory, and tax modelling.
Partner, Tax & Legal, Business Tax Services, Deloitte Cyprus
Antonis is a Chartered Accountant and holds a B.A. degree in Accounting. He trained and qualified in the United Kingdom. Antonis is the author of various articles on national and international taxation and a regular speaker in conferences and seminars. He was actively assisting the University of Vienna team, which advised the Cyprus government on the major tax reform, which harmonized the Cyprus tax system to the EU law and the OECD requirements back in 2002. He is an IFA member, chairman of the Cyprus Institute of Certified Public Accountants Tax Planning & Policy Committee, and correspondent of the IBFD for Cyprus. Before joining Deloitte as a tax partner, he worked for the Cyprus Inland Revenue as a Principal Assessor where he received extensive experience in both national and international taxation. He is now providing tax compliance and tax advisory services to Deloitte clients and is acting as a tax consultant to the Cyprus Shipping Council.
Senior Manager at Deloitte Netherlands and Assistant Professor at Maastricht University, the Netherlands
Jasper Korving is a senior manager in Deloitte’s Tax Research Department. He has over 18 years of experience and specializes in EU Tax Law and International Tax Law issues. Jasper also is an assistant professor at Maastricht University. He has been involved in all kinds of actions in which EU law plays a role, both related to CJEU case law and EU tax policy issues. At the IFA Congresses in 2019, 2020 and 2021 he acted as secretary to the Seminar on European Tax Law developments. Jasper is a well-known contributor to different tax law magazines, both in English and in Dutch, and regularly speaks at seminars and conferences.
Vice-Chairman, the Cyprus VAT Association (CYVA)
Alexis is widely considered as the foremost expert on VAT in Cyprus. With close to 20 years of experience in VAT strategic consulting, he advises businesses on local and international VAT matters and lectures regularly at VAT seminars and conferences in Cyprus and Europe. He has authored a number of tax syllabuses, chapters, articles and a book on matters pertaining to Cyprus and EU VAT. Alexis is a Fellow Chartered Accountant, the Managing Director of dedicated VAT consultants, Chelco VAT Ltd, and a partner and director of the VAT Forum in Belgium.
President in the International Operation and Foreign Investments Committee, under the auspices of ICPAC
Maria Zavrou is the President of the International Operation and Foreign Investments Committee, under the auspices of ICPAC since 2019. She joined KPMG in Cyprus in 1996 and qualified as a Chartered Certified Accountant of England and became a Board Member of KPMG in Cyprus since 2010. Maria is involved with audits of large multi-national groups, international entities, operating in Central and Eastern Europe, Russia and CIS Countries, South Africa, India and United Kingdom. Furthermore, she is the Assistant Head of the Retail sector in KPMG. She is the founding member of the Cyprus-South Africa Business Association (under the auspices of CCCI) which she leads since 2014, and a member in the Cyprus -Belarus and Cyprus – Ukraine Business Associations under the auspices of CCCI.
NSS Tax Management & Consulting is an international tax boutique Firm, with offices in Cyprus and Israel, focused on providing a comprehensive holistic tax and transfer pricing solutions to clients. Our team is comprised of senior tax professionals with a combined experience of more than 100 years in top-tier international tax practices. We emphasise providing a superior service along the most professional advice. We believe that good service requires full attention, agility and in-depth understanding of details. The provision of services personally by senior experienced tax advisors allows us to be focused, efficient and provide value in a timely manner.
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
IMH is the largest business knowledge and information transfer organisation in Cyprus. Its services include the coordination and running of conferences, seminars and commercial exhibitions, specialist business media publishing and human resources consulting. Every year, IMH organises more than 110 conferences related to every sector of the market, commercial exhibitions and training seminars, and undertakes the entire process of five business award ceremonies. IMH publishes the only dedicated business magazines in Cyprus: the Greek language monthly IN Business and the English-language monthly Gold, which are read by tens of thousands of Cypriot and non-Cypriot professionals, managers and entrepreneurs. It also operates the magazines’ accompanying news portals, the IN Business Portal (www.inbusinessnews.com), the GOLD Portal (www.goldnews.com.cy) and the REPORTER (www.reporter.com.cy). ΙΜΗ also delivers via e-mail the IN Business Daily Newsletter, the GOLD News Daily Newsletter and the REPORTER Newsletter. The IMH Business Development Department bids for tenders published by local public sector bodies, the European Union and other international organisations. Through its activities, ΙΜΗ gives businesses a chance to develop, to network, to find new clients and business associates, to communicate with new audiences and discover growth opportunities. www.imhbusiness.com
Being one of the 217 chapters of the Association of Certified Fraud Examiners (ACFE), the Cyprus Chapter of the ACFE is an anti-fraud organization that serves professionals, students and communities in Cyprus. The objective of the Cyprus Chapter of ACFE is to promote improved fraud detection and deterrence. This is achieved through enhancement of knowledge, promotion of networking opportunities and support for its members and the business, academic and government community
ACCA (the Association of Chartered Certified Accountants) is the global professional body for professional accountants. We’re a thriving global community of 233,000 members and 536,000 future members based in 178 countries and regions, who work across a wide range of sectors and industries. We uphold he highest professional and ethical values. We offer everyone everywhere the opportunity to experience a rewarding career in accountancy, finance and management. Our qualifications and learning opportunities develop strategic business leaders, forward-thinking professionals with the financial, business and digital expertise essential for the creation of sustainable organisations and flourishing societies. Since 1904, being a force for public good has been embedded in our purpose. We believe that accountancy is a cornerstone profession of society and is vital helping economies, organisations and individuals to grow and prosper. It does this by creating robust trusted financial and business management, combating corruption, ensuring organisations are managed ethically, driving sustainability, and providing rewarding career opportunities. And through our cutting-edge research, we lead the profession by answering today’s questions and preparing for the future. We’re a not-for-profit organisation. Find out more at accaglobal.com
Through its representation of ten member banks, that hold more than 90% of market share and provide a full range of banking services, the Association of Cyprus Banks (ACB) is the voice of the Cyprus banking system. Its primary aim is to promote best practices for the interest of the banking sector and the local economy as a whole. The ACB is a non-profit organization through which common positions are formulated and promoted on banking and financial issues, when local legislative and governmental policies are determined. In communicating the industry’s views, the ACB cooperates closely with the Central Bank of Cyprus, the House of Representatives and various Ministries as well as other private and public bodies. The Association also has a close relationship with the European Banking Federation (of which it is a member), national banking associations and global organizations. This year, the ACB is celebrating its 50 years’ anniversary.
CFA Society Cyprus is a local society of the CFA Institute, which is based in Virginia, USA. With more than 150,000 members worldwide, the CFA Institute offers the Chartered Financial Analyst (CFA) designation; the most respected and recognized professional qualification in the world of finance and investments, after a stringent examination process. The Society was founded in 2003 and currently numbers 187 members who have all acquired the CFA certification and represent all the major banks and investment firms in Cyprus. As Chartered Financial Analysts certified by the CFA Institute, they are best-trained at both a theoretical and practical level, for financial and investment analysis.
The Cyprus Fiduciary Association (CYFA), established in 2011, is the representative body of regulated Administrative Service Providers (ASP’s) in Cyprus. With a vision to assist in forming a solid international business sector in Cyprus operating on high professional standards, ethics and integrity, the Association aims to serve industry providers by promoting their interests, raising sector awareness, supporting their operations, contributing to new legislations and delivering valuable training to professionals. The Association’s commitment to its purpose has established it among the most reputable and recognised organisations within the country, before public and regulatory authorities, other associations, as well as the business community in Cyprus and overseas.
The Cyprus Institute of Internal Auditors was founded in 1998. Today it has more than 550 members and is governed by an elected Management Board of 10 members, which is supported by four sub-committees. The vision of the Cyprus Institute of Internal Auditors is to be the fundamental institution that represents, promotes and upgrades the Internal Audit profession in Cyprus. Its mission is the continuous promotion and recognition of the profession, as well as the enrichment of its members’ knowledge and skills by providing relevant educational and training courses.
The Cyprus Integrity Forum (CIF) was established in 2010, and is today the leading institution in Cyprus for the fight against corruption and promotion of transparency. It is an independent, non-governmental, non-politically partisan and non-profit organization. CIF collaborates with various organizations in Cyprus, in Europe and in the USA to effectively raise public awareness in all layers of society for combating corruption in our everyday lives, enhance the content and quality of public and corporate governance in all forms of business and ensure that the State and all Governmental Bodies act and behave in a manner that promotes transparency and ethics in all respects.
The Institute of Certified Public Accountants of Cyprus (ICPAC) is the relevant authority for the accountancy profession in Cyprus. Established in 1961, ICPAC currently has more than 5.300 professional accountants as members and another 3,500 students and graduates. Its principal objectives include the provision of an organisational framework for all professional accountants, the support and the promotion of the activities and interests of the accountancy profession, safeguarding the reputation of the profession and adherence to the Code of Ethics by all its members, as well as the continuous professional development and updating of members on issues relevant to accounting, auditing and other business matters. In addition, ICPAC has been delegated the task to regulate the audit profession and is also a competent authority under the Anti-Money Laundering laws, the Laws on the regulation of enterprises providing administrative services and the Insolvency Practitioners Law. ICPAC is a key stakeholder in the economy of the country, playing a vital role to establish and maintain Cyprus as a prominent international business centre of good repute. It provides assistance to the Government and its departments, participates in the parliamentary consultation, as well as cooperates harmoniously with other bodies of the private sector. Furthermore, ICPAC is active outside the boundaries of Cyprus via a network of international accountancy and other professional bodies.
IN Business magazine has a monthly readership of over 89,000. It is the only monthly business magazine in Cyprus that provides a comprehensive overview of all segments of the economy, from retail to services, as well as reporting on new deals, presenting new faces and, generally, looking at everything that’s happening on the local business scene. IN Business has always been a pioneer in local business journalism, thanks to its in-depth analysis and research, often backed by previously unpublished facts and figures. www.inbusinessnews.com
GOLD magazine was founded in 2011 as the first English-language business monthly in Cyprus. Today, it is not only synonymous with the promotion of good business practices but it has a unique and valuable readership of High-Net-Worth Individuals, international company executives, English-speaking Cypriot and non-Cypriot businessmen and women. GOLD provides a comprehensive and informed overview of the local business scene, the economy and the market and has gained a reputation for its in-depth articles and revealing interviews with key local and international personalities. www.goldnews.com.cy
Hilton Nicosia Hotel, Nicosia, Cyprus
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