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TAX - Special Contribution for the Defence Law N.117(I)/2002 …the experience so far

Duration: 3,5 hours
(14:30-18:00)
Date: 17 November 2009
Venue: Holiday Inn, Nicosia
Instructor: Stelios Violaris, Christos Charalambides
Fee: €110 (excl. VAT)

Aim of the course

The course will assist participants to:
  • Gain deep understanding of the specific provisions of the Special Contribution for the Defence legislation
  • Understand the mode of taxation of dividend, interest and rental income
  • Comprehend the mechanics of the Deemed Dividend Distribution provisions of the legislation
  • Become aware of payment deadlines, assessments, and interest/penalty charges
  • Learn about contentious issues, recent developments/updates and our practical experiences on application of the legislation’s provisions so far

Course outline

General provisions of the Special Contribution for the Defence Law N.117(I)/2002
  • Scope of imposition and types of incomes subject to Special Contribution for Defence taxation for individuals, corporate entities, foreign branches, provident funds, semi-government organisations

Mode of taxation

  • Dividend income
  • Interest income
  • Rental income
  • Assessment and collection

Deemed Dividend Distributions

  • Special emphasis on Deemed Dividend Distribution provisions, including practical examples
  • Capital reductions
  • Dissolutions
  • Declarations and payments

Current and other issues

  • Discussion on Income Tax Office Circulars and practice of the tax authorities
  • Questions and discussion on participants’ own experiences

Who should attend the course

Professionals who are responsible for the compliance with the Special Defence Contribution requirements of any business enterprise.