- Seminar closed -
Chain Transactions: Allocating VAT in Successive Supplies of Goods
The Chelco VAT International Academy ends its 2024 academic year with a specialised morning seminar focussing on the VAT Place of Supply Rules when goods are being sold in a chain.
We often receive questions concerning the supply of goods and chain transactions. We decided to put a training session together to provide some clarity!
The Place of Supply rules determines where a transaction is taxed for VAT purposes and which Member State has the taxing rights.
- Where a Cyprus company is involved in the supply of goods, when does Cyprus VAT apply and when not?
There is often confusion how to deal with the VAT when A sells goods to B who sells the same goods onwards to C, but the goods go directly from A to C, where all parties are taxable persons.
- When A, B and C are in different Member States, we may call this ‘triangulation’ but this requires 5 rules to be met. Why does triangulation even exist and what are these rules?
- Is it true that Cyprus has one of the rules incorrect in its law, despite a decision from the European Court of Justice confirming that this is a mistake?
When A, B and C are in two different Member States.
- How do we deal with VAT?
- Apparently it is important who is responsible for the transport – why is this?
- How should I determine who undertakes the transport?
- Is it true that the intermediary operator can be ‘punished’ when they provide their VAT number to A, who is in a different Member State, but the goods go to a third Member State?
All the above and more will be addressed at the seminar. Specifically, the seminar will cover, amongst other things, the following:
- Understanding the difference between the terms ‘supply of goods’ and ‘intra-community acquisition of goods’;
- Understanding the importance of the ‘transportation’ and examining who should be considered to be the one to whom transport is allocated;
- Analysing the VAT treatment and the responsibilities of parties when they take part in a B2B chain transaction and the goods are transported between Member States from the initial supplier to the end customer;
- Understanding the ‘safety-net’ rule and the ‘penalty’ for using a VAT number of a Member State different to where transport ends;
- Analysing triangulation, including why it exists, the five rules and the mistake in the Cyprus VAT law.
The seminar is open to any professional with exposure to VAT matters from all industries.
Agenda
Welcome Address
Alexis Tsielepis: Instructor
- Understanding:
- supply of goods
- intra-community supply of goods
- intra-community acquisition of goods
- place of supply of goods without transport
- place of supply of goods with transport
- Analysing the exemption (zero-rate) for the intra-community supply of goods
- Understanding how the exemption (zero-rate) works in chain transactions, and the importance of who undertakes the ‘transportation’
- The doctrine in EMAG, Eurotyre and the rule in Article 36a of the VAT legislation
Short Coffee Break
- The problem of using the VAT number of a MS to zero-rate an intra-community supply of a good, but transport goes to a third Member State
- Analysing the safety-net provision and the confirmation in Facet
- Understanding ‘triangulation’
Discussion and Questions
End of Seminar
The Instructor
Alexis Tsielepis, BSc, FCA
Managing Director
Chelco VAT Ltd
E-mail: [email protected]
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 at local and international VAT conferences.
Alexis possesses an extensive vocational and educational experience in European VAT and a detailed comprehension of EU VAT matters and decisions of the European Court of Justice (ECJ). He has served on various committees charged with tax matters and his work includes liaising with the Cyprus tax authorities and government on policymaking.
He has written a number of tax syllabuses, chapters and articles on matters pertaining to Cyprus and EU VAT. He is the author of the book “An in-depth analysis of the Fixed Establishment concept and a comparison with the Permanent Establishment concept”.
Alexis is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), and holds the Expert in European Value Added Tax Degree, which he earned with the highest grade ever awarded in the history of the coveted diploma. He is a Partner and a Director of the VAT Forum in Belgium and the co-founder and Vice-Chairman of the Cyprus VAT Association (CYVA).
He is also a Certified Vocational Trainer with the Human Resources Development Authority of Cyprus (ANAD).
Alexis is sharing his knowledge on VAT, in a series of seminars and workshops organised by the Chelco VAT International Academy, covering an array of VAT-dedicated topics, with the crown jewel being the recently launched Diploma in VAT Excellence (DiVE), a 10-month course covering EU and Cyprus VAT law in a depth never before seen in Cyprus.
Who Should Attend?
When, How & How Much
Limassol
Wednesday, 11 December 2024, Columbia Plaza Venue Centre
9:00am – 1:30pm (Registration at 8.30am)
4 CPD Units (certificates of attendance will be provided)
€175 + VAT
Group Discount (for 3 persons or more): 15%
Free for current students of the Diploma in VAT Excellence (DiVE).
English