Value Added Tax (GCC VAT)

• Get an understanding of the VAT Law and Executive Regulations relating to tax accounting for transactions
• Get an understanding on the maintenance of records and preparation of the Tax Return
• Get a clear understanding of the implication of VAT Law to ensure proper compliance with the law

Learning Outcome

• Understand principles of VAT
• Learn in detail about VAT legislation, Regulation, Territory, and Agreements
• Understand the supplies and its types, rates, and calculation
• Understand concept through case-study and exercises based on VAT calculation and comparative economic review
• Get knowledge of registration, exemptions, and detailed implication at strategic, Human and IT level
• Learn principles of VAT administration, compliance, and complex areas and solve the puzzle through an accounting based board game.

The course has designed to address all the levels of the organization; Jul 12, 2018 Strategic, Tactical and Operational.

The course is suitable for

• Directors
• Chief Financial Officers (CFO)
• Chief operating officers (COO)
• Chief financial controllers (CFC)
• Internal Auditors & Accountants
• Senior & Junior Accountants
• Tax practitioners and Operational staff

Day 1

• Session 1: Scope of Tax
• Session 2: Supply of Goods & Services
• Session 3: Deemed Supplies
• What supplies are considered as deemed supplies?
• Session 4: Date of Supply Rules
• When to account for VAT as per date of Supply Rules
• What is the date of supply rules under special circumstances
• Session 5: Place of Supply Rules

Day 2

• Session 1: Value of Supply Rules
• Session 2: VAT Exemptions
• Session 3: Zero-rate Supply of Goods & Services
• Session 4: Account Receivables

Day 3

• Session 1: Account Payables
• Session 2: VAT Filing