Chelco boosts tax unit, Tsielepis is new ‘VAT Ex­pert’

Financial Mirror (Cyprus) - - FRONT PAGE -

Alexis Tsielepis, Man­ag­ing Di­rec­tor of Li­mas­sol-based Chelco VAT Ltd., has earned the cov­eted Ex­pert in Euro­pean Value Added Tax (VAT) diploma af­ter achiev­ing the high­est grade ever awarded in the history of the de­gree.

Af­ter a year and half of classes in Bel­gium and Barcelona, a ver­bal and writ­ten ex­am­i­na­tion and a 105-page the­sis, Tsielepis scored an un­prece­dented 95%.

The ‘Ex­pert in EU VAT’ de­gree is awarded only to the very best in­di­rect tax prac­ti­tion­ers from all over Europe who at­tempt the course. The de­gree is ad­min­is­tered and awarded by the VAT Fo­rum, an in­ter­na­tional part­ner­ship of in­di­rect tax spe­cial­ists. Tsielepis is the first and only Cypriot to have at­tempted the de­gree and soon af­ter the re­sults of the ex­am­i­na­tion were an­nounced, he was in­vited to rep­re­sent the Fo­rum as a Part­ner, which is another first for a Cypriot tax con­sul­tant.

“VAT is not as straight­for­ward as it may seem,” an elated Tsielepis com­mented shortly af­ter the grad­u­a­tion cer­e­mony in Brus­sels on Septem­ber 30. “It is a highly spe­cialised sub­ject that takes a lot of ef­fort and ded­i­ca­tion to master.”

He added that it was not the grade or the ac­co­lades that mat­tered.

“It is the fact that my knowl­edge of VAT is now on a dif­fer­ent level,” he said. “Hav­ing suc­cess­fully com­pleted this ad­mit­tedly de­mand­ing de­gree, I now feel con­fi­dent that I can ben­e­fit my clients, as­so­ci­ates and stu­dents with truly knowl­edge­able, com­pre­hen­sive and re­li­able in­di­rect tax ad­vice.”

A Fel­low Char­tered Ac­coun­tant (FCA), Tsielepis sits on var­i­ous com­mit­tees charged with VAT and other tax mat­ters and has au­thored a num­ber of tax syl­labuses and ar­ti­cles on mat­ters per­tain­ing to Cyprus and EU in­di­rect tax­a­tion.

He is also an ACCA grader and ex­am­iner and ad­vises rep­utable in­ter­na­tional pro­fes­sional bod­ies on ad­vanced Cyprus VAT and tax­a­tion.

Through Chelco VAT Ltd, which spe­cialises in strate­gic VAT plan­ning and com­pli­ance, Tsielepis lec­tures ex­ten­sively on VAT to pri­vate and public com­pa­nies, pro­fes­sion­als and in­sti­tu­tions as well as gov­ern­ment agen­cies and de­part­ments.

A week ear­lier, af­fil­i­ate char­tered ac­coun­tants Costas Tsielepis & Co Ltd, Char­tered Ac­coun­tants an­nounced the ap­point­ment of Ni­co­las Pa­pa­panayiotou, BSc, MBA, FCCA, as Se­nior Man­ager of its Tax­a­tion Depart­ment.

Ni­co­las holds a BSc in Eco­nom­ics and Ac­count­ing and an MBA in Fi­nan­cial Man­age­ment from the Univer­sity of Hull. He is a Fel­low Char­tered Cer­ti­fied Ac­coun­tant (FCCA) and a mem­ber of the In­sti­tute of Cer­ti­fied Public Ac­coun­tants of Cyprus (ICPAC).

He had over ten years of ex­pe­ri­ence with the tax depart­ment of Deloitte Cyprus in the fields of na­tional and in­ter­na­tional tax ad­vi­sory and com­pli­ance and pro­vided di­rect tax ad­vice across a range of in­dus­tries, in­clud­ing fi­nan­cial, oil and gas, ship­ping, trad­ing, in­vest­ment and bank­ing. His ex­pe­ri­ence also in­cludes tax due dili­gence and in­ter­na­tional tax plan­ning.

Alexis Tsielepis, Di­rec­tor and Head of Tax­a­tion of Costas Tsielepis & Co, said that Pa­pa­panayiotou’s ap­point­ment was ne­ces­si­tated due to the rapid ex­pan­sion of the firm’s tax­a­tion depart­ment and the in­creas­ing need to pro­vide its lo­cal and in­ter­na­tional clien­tele with highly spe­cialised, timely and more in depth tax ad­vice.

“His ap­point­ment will fur­ther im­prove the ef­fi­ciency and ef­fec­tive­ness of the depart­ment,” Alexis said, adding: “Our in­dus­try is rapidly chang­ing for the bet­ter. The role of the tax ad­vi­sor in to­day’s de­mand­ing world of global tax ad­min­is­tra­tion is now more im­por­tant than ever, and rightly so.”

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