Many business models have been challenged since the implementation of the Value Added Tax (VAT) in GCC. Now professionals need to fully understand and be well trained not only on VAT concepts and laws but also on how to create strategic, operational, and tactical planning procedures to keep their revenue coming despite the changes.
This 1-day VAT certification training workshop adopts a scenario-based learning and provides various practical case studies as well as in-training exercises on the rules governing the application of the VAT in GCC, particularly in the UAE and Saudi Arabia. Topics discussed will cover VAT accounting/bookkeeping entries for accounting transactions, VAT calculation including calculation of payable/refundable, and completion of VAT returns. The workshop will end with an actionable plan that you can customize to your own business needs.
The instruction adopts the interactive, activity-based workshop methodology, which aims at identifying the needs of participants through case studies, real-life scenarios, and open discussions. This method is utilized to facilitate a better learning experience and ensure high involvement among participants. Classes are delivered in small groups but can also be given as 1-on-1 depending on the instructor and participant’s availability.
Who should attend:
Business entrepreneurs, CFOs, CEOs, Finance Managers, Staff Accountants, Senior Accountants, Chief Accountants, Accounting Managers, Controllers, External and Internal Auditors, Sales and Purchasing Departments, Tax Consultants, Tax Preparers, or anyone who wish to improve their knowledge of the VAT system like consultants, auditors and other accounting and finance professionals.
- To develop reasonable practical skills for records maintenance in accordance with the provisions of VAT Law
- To become confident while handling VAT routine matters such as preparation, planning, as well as manual and electronic submission of returns
- To enable the participants to handle day to day tax matters of their own business, employer's, clients' etc. in a professional way
- VAT Introduction
- The VAT law and Executive Regulations
- Understanding the VAT law and its structure
- Defining VAT principles and directives as per law
- VAT law and implementation
- VAT Records and Return
- Sample of VAT invoice (exercises)
- Special Record-keeping Requirements
- VAT invoices
- VAT returns and penalties
- VAT Transactions
- How accounting and VAT go side by side
- Be able to define the terms supply of goods, intra-Community acquisition of goods, supply of services and importation of goods.
- Know that the transfer of a going concern is not always treated as a transaction.
- Understand the concept of deemed supplies
- VAT Exemptions
- Understand what an exemption is
- Dealing with Exemptions
- Difference between Exemptions and Zero-Rated Supplies
- State what an exemption may mean for the principle of tax neutrality in the supply chain
- Understanding exemptions and its impact on business
- Describe kinds of exemptions
- VAT Refund
- Provisions for the VAT refund
- Procedures for applying for a VAT refund
- VAT Action Plan 2018
- Measuring the VAT Gap
- Controlling the flow of information in the department/ clients
- Evaluating the volume for seamless planning
- All information at one place for improved compliance
- Strategic tax planning
- Plan for VAT filing both manual (excel sheets) and online
- VAT Return Preparation
- Calculation of taxable figure in complicated cases
About the Trainer:
Muhammad Yasir Charkala is an experienced VAT professional and consultant with 13 years of taxation experience. He has served the Gulf region for 7 years and worked with more than 50 companies including multinationals and local groups like PWC and EY. Yasir has been conducting finance audit and tax-related training across UAE and GCC, both for finance and non-finance professionals, as well as senior management for strategic decision-making.
All materials will be provided
All sessions are valid for 60 days upon booking
18 and older
* Pre-requisite: Students must know basic accounting. Prior knowledge on VAT is an advantage but not required
* Corporate training can also be arranged for a maximum of 20 persons. To book, kindly contact us at 8003337
* Participants will receive a certificate upon successful completion of the workshop. (KHDA attestation can be arranged for AED 120)
At Your Premise
At your home/office or any preferred location in