Course Details

Overview

The course examines the rules and regulations that clearly demonstrates the procedures and controls that should be in place for the initial implementation, to ensure VAT returns are submitted accurately and to avoid penalties due the compliance and errors. The training session will equip the participants with complete understanding, covering all the essentials aspects including the initial implementation in the business and will encourage the participants to deal with the implementation, compliance and return filing confidently.

Extra Benefits:

• A Training Pack containing the information presented on the day
• A Certificate of Attendance

LEARNING OUTCOMES

Upon the successful completion of this course the participants should be able to:

• Understand the concept  and its impact on the economy
• Understand the impact on the operational and the financial performance of the business
• Differentiate various types of supplies with reference
• Differentiate Input and Output
• VAT calculation and reconciliation
• Understand the impact of the Imports and Exports with the member countries (gulf region) and non-member countries (rest of the world)
• Prepare the invoices including VAT
• Understand the registration process and prepare required documents for  registration
• Business strategic and operational planning to implement
• System mapping for implementation
• Understand administration, fines and penalties related to filing
• Identify common errors in calculation

Agenda

• VAT Concept
• Categories of supplies
• VAT and UAE
• VAT registration
• VAT Calculation
• VAT Administration
• VAT Penalties
• VAT on imports/exports
• Business planning for VAT implementation
• VAT invoices and record keeping
• VAT errors

There will be various case studies discussed during the training session to clarify the concept, the implementation issues, avoiding the errors and proper treatment of the supplies.