VAT Training

UAE / GCC VAT IMPLEMENTATION TRAINING COURSE SUMMARY

 

VAT implementation training program is designed to provide a comprehensive outlook at VAT and its implications to the businesses in UAE and its impact on stakeholders outside of UAE also. This program will take you through step by step process for VAT implementation. The course will provide a comprehensive understanding of the VAT system, from the compliance aspects of registration, record keeping requirements, returns and payment obligations and VAT inspections to the practical considerations of how VAT will affect the organisation, the strategic decision making required, as well as the fundamentals of accounting for VAT in the accounting system.

UAE / GCC VAT IMPLEMENTATION TRAINING COURSE OBJECTIVES   

  • Understanding the concept of VAT and its impact on the economy
  • Understanding the impact of VAT on the operational and the financial performance of the business
  • Differentiating various types of supplies with reference to VAT
  • Differentiating Input VAT and Output VAT
  • Categorizing the supplies for VAT calculation
  • Understanding the impact of VAT on the Imports and Exports to GCC and other countries
  • Preparing the invoices including VAT
  • Preparing for VAT registration
  • Understanding VAT administration, fines and penalties related to VAT filing
  • Identifying common errors in VAT calculation

PROFESSIONALS WHO CAN BENEFIT FROM UAE / GCC VAT IMPLEMENTATION TRAINING COURSE 

  • Finance professionals
  •  Accountants
  • Business owners 

UAE / GCC VAT IMPLEMENTATION TRAINING COURSE OUTLINE

VAT CONCEPT

  • Concept of VAT
  • Motive for VAT
  • Input VAT
  • Output VAT
  • Supplies
  • Goods
  • Services

VAT AND UAE

  • Reason behind VAT implementation in UAE
  • Impact of VAT on UAE Economy
  • Impact of VAT on the Businesses
  • Why VAT in UAE is different than rest of the world
  • Gulf VAT Framework

VAT REGISTRATION

  • Rules for VAT registration
  • Rules for VAT De-registration

VAT CALCULATION

  • When should VAT be accounted for?
  • Calculating Input VAT (Sales, Services and Gifts)
  • Calculating Output VAT (Purchases)
  • Short case study Case study for the VAT calculation

VAT ADMINISTRATION

  • Filing VAT returns
  • VAT Schemes
  • Timing for VAT Filing
  • Substantial traders
  • Claim for VAT Refunds

CATEGORIES OF SUPPLIES

  • Taxable Supplies
  • Reduce rated Supplies
  • Zero rated Supplies
  • Exempt Supplies

VAT PENALITEIS

  • Late submission penalties
  • Late payment penalties
  • Error and penalties
  • Default interest rate

VAT ON IMPORTS/EXPORTS

  • Calculating output VAT on Imports from the member countries and non-member countries
  • Calculating input VAT on Export to member and non-member countries

VAT INVOICES AND RECORD KEEPING

  • Layout of the VAT Invoice
  • Charging VAT on Invoice price
  • VAT invoices Record Keeping

VAT ERRORS

  • Pre-registration input VAT Calculation
  • Relief Calculation
  • Valuation of Supplies

Coporate Clients

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Suite #101, AL-Tawhidi 1 Building, Next to ADCB Bank, Bank Street, Khaled Bin Waleed Road, Bur Dubai - Dubai. U.A.E. P.O.Box: 94743 Dubai, UAE

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