Learn How to Implement VAT in the UAE
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2 ratings

Learn How to Implement VAT in the UAE

by Optimizer Middle East

950 AED

(VAT inclusive)

Learn How to Implement VAT in the UAE

950 AED

(VAT inclusive)

by:
Optimizer Middle East
(see all reviews)
when:
Flexible Dates
(see timings & price options)
where:
Dubai - Deira
level:
Beginner
Validity Period: All sessions are valid for 75 days upon booking
Best price guarantee
Description:

The course examines the rules and regulations of VAT and clearly demonstrates the procedures and controls that should be in place for the initial VAT implementation, to ensure VAT returns are submitted accurately and to avoid penalties due to the compliance and errors in VAT returns.

The training sessions will equip the participants with a complete understanding of VAT, covering all the essentials aspects including the initial implementation of VAT in the business and will encourage the participants to deal with the VAT implementation, compliance and return filing confidently.

Learning Outcomes

  • 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 between various types of supplies with reference to VAT
  • Differentiate between Input VAT and Output VAT
  • VAT calculation and reconciliation
  • Understand the impact of VAT on 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 VAT registration process and prepare required documents for VAT registration
  • Business strategic and operational planning to implement VAT
  • System mapping for VAT implementation
  • Understand VAT administration, fines and penalties related to the VAT filing
  • Identify common errors in VAT calculation

Course Outline

VAT Concept

  • Concept of VAT
  • Motive for VAT
  • Input VAT
  • Output VAT
  • Supplies
  • Goods
  • Services

Categories and Supplies

  • Taxable Supplies
  • Reduce rated Supplies
  • Zero-rated Supplies
  • Exempt Supplies

VAT and the UAE

  • The reason behind VAT implementation in UAE
  • Impact of VAT on UAE Economy
  • Impact of VAT on the Businesses
  • Why VAT in UAE is different than rest of the world
  • 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)
  • Short case study for the VAT calculation

VAT Administration

  • Filing VAT returns
  • a) VAT Schemes
  • b) Timing for VAT Filing
  • Claim for VAT Refunds

VAT Penalties

  • Late submission penalties
  • Late payment penalties
  • Error and penalties
  • Default interest rate

VAT on Imports/Exports

  • Calculating output VAT on Imports from the member countries and non-member countries
  • Calculating input VAT on Export to member and non-member countries

Business Planning for VAT Implementation

  • Business strategic planning
  • Operational planning for VAT implementation
  • VAT implementation and its impact on Budgeting
  • Accounting system mapping for VAT implementation
  • VAT Compliance

VAT Invoices and Book Keeping

  • The layout of the VAT Invoice
  • Charging VAT on the Invoice price
  • VAT invoices Record Keeping

VAT Errors

  • Pre-registration input VAT Calculation
  • Relief Calculation
  • Valuation of Supplies
Read more

Skill Level:

Beginner

Materials:

All materials will be provided

Validity Period:

All sessions are valid for 75 days upon booking

Age Requirements:

18 and older

Additional Info:

* Upon completion, participants have an option to choose between a KHDA attested certificate for AED 100 (OR) a certificate from the Institute for AED 50

Location:

Business Village, Block B, Office No. 623
Near Clock Tower
Deira
Dubai

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Each session takes 4 hours

After booking this class you will be contacted by the instructor to set your schedule as per your availability.

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Reviews
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2 ratings

MICHELLE CAUGUIRAN
Tue, 24 Apr 2018, 9:33PM
Review on the class: Accounting for Non-accountants
"I like the class"
Abd Alkader Hourieh
Wed, 22 Nov 2017, 10:28PM

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