EY Cyprus has once again supported and participated in the 4thCyprus International Tax Conference, on Tuesday March 30th.
The conference, which was held online, addressed the most recent trends and developments in taxation across Europe and the globe. Distinguished speakers from the local market and abroad shared their knowledge and views on recent tax developments and various topics of concern to international tax professionals. The audience included professionals and senior executives from, among others, accounting, audit and tax firms, financial and corporate service providers, law firms, investment firms, regulators and governmental authorities.
EY was represented at the event by three speakers:
Ronald van den Brekel, EY Global Transfer Pricing Market and Innovation Leader, presented the topic Transfer Pricing: Pillars 1 & 2, focusing on transfer pricing related aspects of the BEPS inclusive framework project.
Philippos Raptopoulos, Partner andHead of Tax and Legal Services at EY Cyprus, participated in a panel discussion, titled The Future of Cyprus as an International Business Centre.Panellists discussed, among others, the future of the professional services sector in Cyprus, growth prospects of tax advisory departments, the current offering of tax services to international clients, and potential new opportunities and current challenges facing tax professionals.
Finally, Petros Liassides, Partner, Tax Servicesat EY Cyprus, who participated in his capacity of the Chairman of the Tax Compliance Committee, Institute of Certified Public Accountants of Cyprus, participated in a panel discussion titled The Cyprus Reality and the Way forward.The discussion covered topics including the current state of the Cyprus taxation system, recent tax policy changes and effects, the impact of digital innovation and the future of Cyprus taxation.
Commenting on the conference, Philippos Raptopoulos stated: “Cyprus, in its effort to become an international business centre, should offer, among other things, a flexible and attractive tax system. While it is imperative for the tax system to be compatible with the new tax rules that will emerge as a result of the global tax reform, which is expected to be completed within 2021, it should remain competitive, just and sustainable. Finally, the continued training and education of staff is a necessary component for the proper and efficient operation of the Tax Department.”