An agreement on a common VAT framework to be implemented across the GCC states is expected on 1 Jan 2018. In anticipation of the issuance of the final legislation, our 'Preparation for VAT' Series will help you begin to prepare for this change. The Program designed to cover the principles of VAT, and its impact on individuals and businesses in the GCC.

This program demonstrates how VAT works and who is likely to be affected by its implementation throughout the GCC. Participants will understand the mechanics of VAT calculations, and will gain an understanding of who should register for VAT, the goods and services VAT is likely to be taxable and the VAT treatment applicable to different types of supplies.

Attending this course will be a valuable opportunity to capitalize on the trainer's well rounded experience and in-depth knowledge. By the end of this course, participants will have a greater understanding of:

The mechanics of VAT calculations and VAT accounting

What is Output and Input VAT?

The applicable rates of VAT (standard, zero) and which goods and services are taxable

Exempt goods and services, and the implications of being an exempt business

Partial exemption rules for businesses making both taxable and exempt supplies

VAT treatment of import and export, acquisitions of services from non-residents, intra-GCC supplies, and the determination of the "place of supply" of goods and services

The commercial implications of VAT on businesses

Resource requirements: human, technical and professional

This course will also cover the administration of VAT and compliance issues with regards to:

VAT registration

How and when to account for VAT

The practicalities of recording VAT within an accounting system

Generating and maintaining VAT documentation

Submission of VAT returns

For additional details contact us at +974 4419 2761 or [email protected]

Category: Conferences, Education, Training

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