VAT - Value Added Tax Implementation in UAE


Price:                                                1500  AED per indidual (Discounted Price for                                                                                                                                                                                                                                                        Corporate)
Duration:                                          8 Hours
Timings:                                            Flexible

 

Course 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:

  • 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 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 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

  • Concept
  • Motive
  • Input
  • Output
  • Supplies
    • Goods
    • Services

 

CATEGORIES OF SUPPLIES

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

 

VAT AND UAE

  • Reason behind implementation in UAE
  • Impact on UAE Economy
  • Impact on the Businesses
  • Why  in UAE is different than rest of the world
  • Gulf Framework

 

VAT REGISTRATION

  • Rules for registration
  • Rules for De-registration

 

VAT CALCULATION

  • When should be accounted for?
  • Calculating Input  (Sales, Services and Gifts)
  • Calculating Output (Purchases)

 

Short case study Case study for the VAT calculation

 

VAT ADMINISTRATION

  • Filing returns
    • Schemes
    • Timing for VAT Filing
  • Claim for Refunds

 

VAT PENALITEIS

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

 

VAT ON IMPORTS/EXPORTS

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

 

BUSINESS PLANNING FOR VAT IMPLEMENTATION

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

 

VAT INVOICES AND RECORD KEEPING

  • Layout of the Invoice
  • Chargingon Invoice price
  • Invoices Record Keeping

 

VAT ERRORS

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

 

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.