VAT – Value-Added Tax in the GCC

VAT – Value-Added Tax in the GCC

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Program Objectives:

By the end of the program, participants will be able to:

  • Gain a comprehensive introduction of the VAT framework in the GCC
  • Delve into the administration and registration procedures involved in filing for VAT
  • Learn to plan for VAT, align it with business strategy and foresee challenges
  • Pre and post assessments to gauge your level of knowledge
  • Explore the different types of taxable and zero-rated supplies
  • Gain an insight into the accounting and calculations that goes behind VAT
  • Focus on resolving advanced business issues which involve VAT

Who should attend

  • CFO, Finance Director, Finance Managers • Accounting & Finance Staff
  • Tax Managers
  • Procurement & Supply Chain Managers
  • IT & IS Managers
  • Sales & Marketing Staff • Department heads

Program Agenda

What is VAT?

  • Introduction
  • GCC VAT Framework
  • VAT Legislation & Regulations
  • Impact on businesses and economy

Type of supplies

  • Standard rates supplies
  • Zero rated supplies
  • Exempt supplies
  • Mixed supplies

Case Study: Types of supplies

VAT accounting

  • Calculation of output VAT (Sales/gifts)
  • Calculation of input VAT (Purchases/expenses)• Reverse Charge Mechanism
  • Pre-registration input VAT
  • VAT on non-current assets
  • VAT on operating/finance lease
  • Discounts and returns
  • Tax point issues
  • VAT on receivables and payables
  • Bad and doubtful debts

Case Study: VAT Accounting

Administration

  • VAT registration and de-registration
  • Filing VAT return
  • VAT invoices and records
  • Fines and penaltie

VAT planning and implementation considerations

  • Impact assessment
  • IT and systems
  • Finance Admiration
  • Contract pricing
  • Supplier management
  • Communications and training
  • Impact on cash flows
  • VAT Project Management

 

Advanced issues

  • VAT Groups
  • VAT on import/exports
  • Intra GCC Transactions
  • Treatment of Free Zones
  • Inter-company transfers

Impact on Various Sectors

  • Real Estate
  • Retail
  • Education & Training• Health Care
  • Financial Services
  • Banking
  • Insurance
  • Wealth Management • Brokerage
  • Oil and Gas• Transport

To register for this event email your details to abdlk@hotmail.com

Register using webmail: Gmail / AOL / Yahoo / Outlook

 

Date And Time

@ 09:00 AM to
02:00 PM
 

Event Types

 

Event Category

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