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VAT Training

February 9 @ 9:00 am - 5:00 pm

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The course 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 seminar 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

AGENDA:
  • Concept and motive of VAT
  • Input and Output VAT Supplies
  • Goods and Services
    Categories of supplies:
  • Taxable Supplies
  • Reduce rated Supplies
  • Zero rated Supplies
  • Exempt Supplies
  • Zero Rated Vs. Exempt
    VAT and UAE:
  • Reason behind VAT implementation
  • Impact of VAT on UAE Economy
  • Why VAT in UAE is different in UAE?
  • Gulf VAT Framework
  • Reason behind VAT implementation
  • Impact of VAT on UAE Economy
  • Why VAT in UAE is different in UAE?
  • 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)
    VAT Administration:
  • Filing VAT returns
  • VAT Schemes
  • Timing for VAT Filing
  • Substantial traders
  • Claim for VAT Refunds
  • Understand the concept of VAT and its impact on the economy
  • Understand the impact of VAT on the operational and the financial performance of the business
  • Differentiate various types of supplies with reference to VAT
  • Differentiate Input VAT and Output VAT
  • Categorize the supplies for VAT calculation
  • Understand the impact of VAT on the Imports and Exports to the member countries (gulf region) and non-member countries (rest of the world)
  • Prepare the invoices including VAT
  • Understand the VAT registration process and prepare required documents for VAT registration
  • Understand VAT administration, fines and penalties related to VAT filing
  • Identify common errors in VAT calculation

  • MR. FAROOQ
    VAT Certified Trainer
    He has related qualifications – BSc (Hons) in Applied Accounting (UK),
    MSC Finance (UK) and MBA Finance (Pal.) and is active member of Association of Chartered Certified Accountants (ACCA) UK,
    Institute of Finance Accountants (UK) and Institute of Public Accounts (IPA) Australia.

    Details

    Date:
    February 9
    Time:
    9:00 am - 5:00 pm
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