The Cyprus International Businesses Association with the support of ICPAC ( The Institute of Certified Public Accountants of Cyprus) invited the Commissioner of Taxation Mr. Yiannis Tsangaris to address the CIBA members, as well as the members of ICPAC, at an event which was held at the Four Seasons hotel in Limassol.
The event was highly attended with over 250 persons from the international business community, accountancy profession and tax department who all have the opportunity to hear the Commissioner inform on the RECENT CHANGES TO THE TAX AND VAT SYSTEM AND FUTURE CONSIDERATIONS and in particular on the measures to be taken, to bring Cyprus into harmonization with recent OECD and EU directives.
Subsequently, extensive reference was made to the issues of exchange of information, transparency and substance and new measures that needed to be implemented, in order to bring about a more effective and fair taxation of multinationals (MultiNationals).
The Commissioner also referred to the recent consolidation of the Tax and VAT Departments and the simplification of procedures in progress to achieve a more efficient operation of the Tax Department .
Exclusive Sponsors of the event were BEFLEXI Ltd., a prominent member of CIBA.
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