What We Do
At TPAC we offer the full range of Transfer Pricing Analytical Consulting by employing market leader data bases and the OECD recommended methodologies to carry out the comparative studies required.
Read MoreWhat is transfer pricing?
It is an international but also local (Cyprus) requirement that when companies of the same group enter into intergroup transactions, whether for goods or services or resource sharing, must do so by charging each other a price which is at arm’s length. Arm’s length is the price at which an unrelated party is charged by the company.
Read MoreHow can we help?
Our people are resident in Cyprus, know the local tax environment, speak the language, can represent you immediately with the tax authorities thus ensuring a trusted advisor service of the highest quality.
Why choose us
The founder of TPAC is Panikos N Tsiailis an internationally known leading tax consultant.
Read MoreWhat We Do
At TPAC we offer the full range of Transfer Pricing Analytical Consulting by employing market leader data bases and the OECD recommended methodologies to carry out the comparative studies required. The experience of our people and the expertise they bring in each engagement ensure services of the highest standard.
Our people are resident in Cyprus, know the local tax environment, speak the language, can represent you immediately with the tax authorities thus ensuring a trusted advisor service of the highest quality.
What is transfer pricing?
It is an international but also local (Cyprus) requirement that when companies of the same group enter into intergroup transactions, whether for goods or services or resource sharing, must do so by charging each other a price which is at arm’s length. Arm’s length is the price at which an unrelated party is charged by the company.
The transaction between related party must be documented and be available to tax authorities on request. The OECD has issued elaborate guidelines on transfer pricing which are considered as the internationally accepted standard, and have been used as the basis of legislation in many countries including Cyprus. In general a transfer pricing study seeks to identify transactions comparable/similar to the one being examined that have been entered into between unrelated parties in order to establish the arm’s length price / market norm.
Why choose us
Our people are resident in Cyprus, know the local tax environment, speak the language, can represent you immediately with the tax authorities thus ensuring a trusted advisor service of the highest quality.
PANIKOS N TSIAILIS FCCA
The founder of TPAC is Panikos N Tsiailis an internationally known leading tax consultant. He was educated in the UK where he obtained a Diploma in Business Studies and the professional qualification of Fellow of the Chartered Association of Certified Accountants (FCCA).
In January 1979 he joined Coopers and Lybrand Cyprus a legacy firm of PwC. He became immediately head of Tax and Legal Services. He held that position up to a few months before his retirement from PwC on 31 March 2013.
During his career he advised the Government of Cyprus on two major tax reforms and on other tax matters. He also advised the Government during the EU negotiations. For a number of years he was a member of the double tax treaties negotiating team of the Ministry of Finance of the Cyprus Government
He was a Council member of the Institute of Certified Public Accountants of Cyprus (ICPAC) for 12 years, two of which he was the president. He was also a member of the tax committee of ICPAC for more than 30 years and was president of the committee for many years. He represented ICPAC in parliamentary committee meetings.
He has participated in numerous tax symposiums representing Cyprus, most of the times as a speaker. He regularly publishes articles expressing his opinion on matters relevant to his professional specialisation.
He has been following closely international tax developments such the OECD BEPS initiative the Transfer Pricing Recommendations and the EU Directives on tax matters.
He also lectures on European Union Taxation.
Panikos N Tsiailis FOUNDER