Basic Principles of Payroll – The Direct Tax point of view
The Tsielepis Tax Academy sets off its Fall Academic Calendar with an all-new, full-day seminar on Basic Principles of Payroll from a Direct Tax point of view.
The seminar will cover the direct tax aspects of payroll, from the tax registration of employees and the completion and submission of Form TD59, through to the issuance of Certificates of Emoluments (TD63) and the completion and submission of the monthly and annual TD7 (formerly known as IR7).
The seminar will address the following:
- Cyprus payroll taxation and the employer’s compliance responsibilities
- Employee registration and payroll onboarding
- Completion and administration of Form TD59
- Calculation of taxable emoluments and PAYE
- Benefits in kind, allowances and expense reimbursements
- Monthly payroll reporting and Form TD7
- Preparation of Certificates of Emoluments, Form TD63
- Annual Form TD7 and year-end payroll reconciliations
- Correction of payroll errors and management of compliance exposures
- Common mistakes and questions
The seminar is targeted towards accountants of all levels, bookkeepers, auditors, tax consultants, tax lawyers and other professionals who deal with Payroll.
Agenda
Registration & Coffee
Welcome Address
Nicolas Papapanayiotou, Instructor
The Cyprus Payroll Tax Framework
- Overview of the employers’ direct tax obligations
- Responsibilities of employers, employees and payroll professionals
Employee Registration and Payroll Onboarding
- Tax registration of employees
- Information and supporting documentation to be obtained from employees
- Commencement and cessation of employment
Coffee Break
- Practical onboarding considerations for Cyprus and overseas employees
- Payroll reconciliations and correction of errors
- Purpose and timing of Form TD63
- Information to be included in the certificate
Light Lunch
- Reconciliation with payroll records and monthly submissions
- Treatment of employees joining or leaving during the year
- Reconciliation of annual payroll figures with monthly submissions
- Identification and correction of discrepancies
- Record-keeping and audit trail requirements
Coffee Break
- Bonuses and irregular remuneration
- Benefits in kind and allowances
- New employees, departing employees and mid-year changes
- Underpayments and overpayments of PAYE
- Common mistakes identified during payroll reviews
End of Seminar
Agenda
Welcome Address
Nicolas Papapanayiotou, Instructor
The Cyprus Payroll Tax Framework
- Overview of the employers’ direct tax obligations
- Responsibilities of employers, employees and payroll professionals
Employee Registration and Payroll Onboarding
- Tax registration of employees
- Information and supporting documentation to be obtained from employees
- Commencement and cessation of employment
Coffee Break
- Practical onboarding considerations for Cyprus and overseas employees
- Payroll reconciliations and correction of errors
- Purpose and timing of Form TD63
- Information to be included in the certificate
Light Lunch
- Reconciliation with payroll records and monthly submissions
- Treatment of employees joining or leaving during the year
- Reconciliation of annual payroll figures with monthly submissions
- Identification and correction of discrepancies
- Record-keeping and audit trail requirements
Coffee Break
- Bonuses and irregular remuneration
- Benefits in kind and allowances
- New employees, departing employees and mid-year changes
- Underpayments and overpayments of PAYE
- Common mistakes identified during payroll reviews
End of Seminar
The instructor
Nicolas Papapanayiotou, BSc, MBA, FCCA
Director, Head of Taxation
Costas Tsielepis & Co Ltd
E-mail: [email protected]
Nicolas specialises in direct tax and is now widely considered as one the leading tax advisors on the island. His solid practical and teaching experience of Cyprus’ tax legislation and its applications position him uniquely to lead the Tsielepis Tax Academy.
Nicolas was the principal lecturer of GlobalTraining, the professional training arm of the University of Nicosia in Limassol from 2016 until June 2024 analysing the principles of Advanced Taxation to ACCA students.
ACADEMIC & PROFESSIONAL QUALIFICATIONS
Nicolas graduated from the University of Hull where he received a Bachelor of Science Degree (BSc) in Economics and Accounting. He also received a Master of Business Administration (MBA) in Financial Management. Nicolas qualified with the Tax Department of Deloitte Ltd, Cyprus.
He is a Fellow of the Association of Chartered Certified Accountants (FCCA) and a member of the Institute of Certified Public Accountants of Cyprus (ICPAC).
PROFESSIONAL BACKGROUND
Nicolas is a seasoned tax advisor specialised in corporate and personal taxation. He has close to 20 years of solid experience in the fields of national and international tax advisory and compliance.
He has been involved in a number of international corporate restructuring projects and has extensive experience in tax due diligence and international tax planning using Cyprus.
Nicolas serves a range of industries, including energy, shipping, financial services, investment and banking as well as high net worth individuals and frequently represents clients before the Cyprus Tax Department in tax appeals and disputes relating to the interpretation of tax laws.
PUBLICATIONS
He is an author of various articles, reports and presentations on Cyprus tax law and on the implementation of EU Directives. Nicolas is also an author for the International Bureau of Fiscal Documentation (IBFD) the world’s foremost authority on cross-border taxation, the home of international taxation.
Who should attend?
When, where & how much?
Limassol
Thursday, 22 October 2026, Columbia Plaza Venue Centre
9:00am – 5:30pm
7 CPD Units (certificates of attendance will be provided)
€250 + VAT
Group Discount (for 3 persons or more): 15%
English