VAT training program focuses on VAT understanding, recording and filing of VAT return in the most effective way to avoid any penalties for the organization.
Value Added Tax (or VAT) is an indirect tax. Occasionally you might also see it referred to as a type of general consumption tax. In a country which has a VAT, it is imposed on most supplies of goods and services that are bought and sold. VAT is one of the most common types of consumption tax found around the world. Over 150 countries have implemented VAT (or its equivalent, Goods and Services Tax), including all 29 European Union (EU) members, Canada, New Zealand, Australia, Singapore and Malaysia. A business pays the government the tax that it collects from the customers while it may also receive a refund from the government on tax that it has paid to its suppliers. The net result is that tax receipts to government reflect the ‘value add’ throughout the supply chain. To explain how VAT works we have provided a simple, illustrative example below (based on a VAT rate of 5%)
» Understand VAT concepts in details and its applicable rules in UAE.
» You get understanding of VAT account creation, adding information and manage it for filling.
» You will be able to handle all VAT related matters for your company.
» Describe the way in which VAT operates, particularly in respect of output tax and input tax, in such a way that it remains neutral in its application by businesses.
» Identify how VAT applies to international transactions of both goods and services and how the system allows by ensuring that imports and exports are neither advantaged nor disadvantaged over domestic supplies by applying Double Tax treaty.
» Explain the impact of exemption in VAT and how tax is calculated by businesses that deal in exempt supplies.
» Categorize some of the more important administrative issues that VAT requires.
» Recognize how to plan your VAT balance.
» Identify the risks behind improper VAT management.
» Refunds - VAT & Excise Tax
• Excise Tax Refunds Guide
• VAT Refund Guide
• VAT Refund Building New Residences by UAE Nationals Guide
• Guide for suppliers & receipts of exhibition and conference services
• Declaration by International Exhibitor / International Attendee of a Conference
• Exhibitors Supplier's Licence Request Form to grant the right to occupy space
• Exhibitors Supplier's Licence Request Form to grant access to events
• Declaration by Contractor
» Other (Scenarios and Payments)
• VAT Payment for Commercial Property Buyers Guide
• Excise Tax Scenarios: Importers
• Excise Tax Scenarios: Producers
• Excise Tax Scenarios: Release from a Designated Zone
• Taxable Person Guide - Excise Tax
• Payment Guide
• CRN - TRN Linking Guide
• Voluntary Disclosure Guide
• Clarifications Guide
TAX AGENT TRAINING PROGRAM
Training Outline (Agenda):
• VAT BACKGROUND
• DEFINITION OF SUPPLIES
• LIABILITY OF SUPPLY
• ZERO RATING
• VAT EXEMPTION
• DEEMED SUPPLIES
• VAT ESSSENTIALS
• VAT APPLICABILITY LEVEL
• TAXABLE TRANSACTIONS
• DESTINATION PRINCIPLE
• VALUE OF THE SUPPLY
• TIME OF SUPPLY
• VAT LEVY V/S COLLECTIONS
• VAT REGISTRATION
• VAT INVOICING
• VAT COMPUTATION
• REVERSE CHARGE MECHANISIM
• VAT CAPITAL ASSET SCHEME
• VAT PLANNING
• INPUT TAX -WHEN TO RECOVER
• PARTIAL EXEMPTION
• VAT RECORDS
• VAT RETURNS
• VAT CHECKLISTS
• ACCOUNTING FOR VAT
• VAT TREATMENT ON BAD DEBTS
• INTERNATIONAL ASPECTS -GOODS
• INTERNATIONAL ASPECTS –SERVICES
• PENALTIES FOR ERRORS AND OMISSIONS
• REFUNDS, REPAYMENTS AND OTHER CHARGES
• THE AUTHORITY POWERS, APPEALS AND ASSESSMENTS
• TRANSFERS OF OWNERSHIP OF A BUSINESS
• VAT GROUPS
• VAT AUDIT
• ROLE OF A TAX AGENT
• VAT Audit Assistance
• Real Estate VAT Advisory
• VAT Retail Documentation and Compliance
• E-Business VAT Implications
• Internal VAT Audits
• VAT Expert Support in Investigations
• Industry Specific VAT Solutions
• VAT Training & Testing
• Customized VAT Roles and Assistive Role of Tax Agency
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BERKELEY MIDDLE EAST HOLDING
Berkeley Middle East Holding is a multi-national venture working over decades with successful growth across the globe. We engage in a variety of services including professional trainings, employee development, management consulting, investments, Fashion, Real Estate, Technology and facilitating immigration formalities for aspiring companies to move internationally.