Presentations focused on international tax developments and their impact
A PwC Cyprus event held in Moscow in cooperation with PwC Russia focusing on the challenges and opportunities our country offers to companies that operate, invest in or wish to expand their activities to Cyprus was particularly well received by the Russian business community.
The event was held on 3 April with the participation of Finance Minister Mr Harris Georgiades, Tax Commissioner Mr Yiannis Tsangaris, Head of the Advanced Tax Rulings Unit (Direct Taxation), Tax Department of the Ministry of Finance Mrs Stavroula Vrasida, Vice-Chairman of the Cyprus Securities and Exchange Commission Mr Andreas Andreou and other members of PwC Cyprus and PwC Russia. The CEO of PwC Cyprus Mr Evgenios Evgeniou welcomed more than 120 participants at the event and highlighted the value of transparency in business today.
Participants were briefed about developments in the Cyprus economy, while important European and other international developments which affect Cyprus’ tax policy were analysed in depth. Among the issues discussed were the position of the Cyprus authorities on the exchange of information, the issuance of tax technical circulars, transfer pricing as well as the EU’s Anti-Tax Avoidance Directive (ATAD).
They were then briefed about developments in the Cypriot investment funds sector and the challenges a changing business scene poses to high net worth individuals. Finally, members of PwC Russia analysed the current situation in the Russian market.