Exclusive Discounts - Pay Online and Grab Up to 40% Discount on Certified Courses Across 15 Knowledge Areas HERE.
VATIValue Added Tax Implementation
Rating:
English
Intermediate
FACE 2 FACE
ON SITE TRAINING
LIVE VIRTUAL
TRAINING
COACHING
& MENTORING
SELF-PACED
TRAINING
Select Date
Download Brochure
Course Overview
This specially designed VAT Training program examines the rules and regulations of VAT and clearly demonstrates the procedures and controls that should be in place to ensure VAT returns are submitted accurately and on time. This training will give you a complete understanding of VAT, covering all the essentials topics and giving you the confidence to know if you are dealing with VAT correctly. The VAT Training is developed to equip your team to adequately embrace the VAT requirements in Global context. The introduction of VAT represents a significant change in tax policy and will have a major impact on businesses across GCC.
The program will provide a thorough understanding of the basic concepts and principles of VAT and how it operates internationally. When national VAT law of the country where the company is operating is issued, the program will be based on the content of the mentioned law and its secondary legislations.
This course introduces the basics of Value Added Tax. As such, no great understanding of VAT is required as the course will build from the absolute basics through to some of the more complex issues such as exemption. The workshop does not focus on VAT as applied any one country but takes a global view
The program will provide a thorough understanding of the basic concepts and principles of VAT and how it operates internationally. When national VAT law of the country where the company is operating is issued, the program will be based on the content of the mentioned law and its secondary legislations.
This course introduces the basics of Value Added Tax. As such, no great understanding of VAT is required as the course will build from the absolute basics through to some of the more complex issues such as exemption. The workshop does not focus on VAT as applied any one country but takes a global view
Key Takeaways
1
Understand the basic concepts and calculation of tax base and rate.
2
Discuss some advantages and disadvantages of the VAT.
3
Describe VAT mechanism, particularly in respect of output tax and input tax, in such a way that it remains neutral in its application by businesses.
4
Identify how VAT applies to international transactions of both goods and services.
5
Explain the impact of exemption in VAT and how tax is calculated by businesses that deal in exempt supplies.
National Association of State Boards of Accountancy
LEORON Professional Development Institute DMCC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org
Course Outline
Day 1: Understanding VAT Basics and Scope
Introduction to VAT
•Overview and Agenda
•Updates on GCC’s VAT
•Definition and Characteristics of VAT
•VAT Mechanism (Input VAT, Output VAT)
•VAT Terminology (Zero rated, Exempt, Out of scope)
•Advantages and Disadvantages of VAT
Scope and Calculation of VAT
•Scope of the Tax
•Taxable Transactions (Goods and Services)
•Chargeability and Liability for VAT
•Taxable Persons and Threshold
•Place and Time of Supply
•Import Transactions
VAT Calculation
•Tax Rate
•Taxable Base
•Case Study: Determining Registration Date
Day 2: VAT Exemptions, Reporting, and Taxpayer Obligations
Exemptions, Reporting, and Zero Rating
•Exemptions from VAT
•Exempted Activities and Goods
•Registration and Filing Obligations
•Periodical VAT Returns
•Payment, Claims, and Non-compliance
•Reporting
•VAT GL Accounts
•Books, Records, and Invoices
•Supporting Information for VAT Deduction
•Zero Rated Goods and Activities
•Out of Scope Transactions
Reverse Charge and VAT Taxpayers' Obligations
•Reverse Charge Mechanism
•Right to Deduct
•Apportionment of Input VAT and Prorata
•VAT Taxpayers and Obligations
•Registration
•Filing Obligations
•Payment, Claims, and Non-compliance
•Reporting Requirements
Day 3: Special Cases, VAT Trends, and Case Studies
Special Cases of VAT and Trends
•Special Cases of VAT
•Cash Business
•Obligations for Non-Residents
•Jewellery Special Schemes
•VAT Refunds for Tourists and Non-Resident Businessmen
•VAT Refund for Diplomatic Bodies and Consulates
•Adjustments for Changed Use of Goods or Services
•VAT Trends and Communication Strategy
•VAT Fraud: Discovery and Reporting
Case Studies, Wrap-up, and Self-Test
•Case Studies, Exercises, and Group Discussions
•Recap and Wrap-up Discussion
•Self-Test or Assessment on Covered Topics
Who Should Attend?
This highly practical and interactive course has been specifically designed for
→ CEO/CFO/COO/CIO
→ Tax directors
→ Financial controllers/managers
→ Procurement managers
→ Legal and contract affairs professionals
→ Information technology managers
→ Sales and marketing managers
Related Courses
FAQ
What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +1071 4 1075 5711 or [email protected].
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.
Reviews
- Review:IAMM Internal Audit Maturity ModelIn recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!Dalal KutbiCountry Learning & Development Manager at IKEA Saudi Arabia
- Review:Certified Professional in Quality and Patient SafetyDating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,Turki S. AlsahaanDir L&D, Talent Management at Mobily, Etihad Etisalat Company
- Review:Certified Professional in Quality and Patient SafetySince the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.Emad AlrajihVP, Business Winning at BAE Systems Saudi Development & Training
- Review:Certified Professional in Quality and Patient SafetyWe have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. LEORON has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,Nasser M. Al-SubaieSr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen
- Review:IAMM Internal Audit Maturity ModelIn recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!Dalal KutbiCountry Learning & Development Manager at IKEA Saudi Arabia
- Review:Certified Professional in Quality and Patient SafetyDating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,Turki S. AlsahaanDir L&D, Talent Management at Mobily, Etihad Etisalat Company
- Review:Certified Professional in Quality and Patient SafetySince the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.Emad AlrajihVP, Business Winning at BAE Systems Saudi Development & Training
- Review:Certified Professional in Quality and Patient SafetyWe have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. LEORON has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,Nasser M. Al-SubaieSr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen
