Introduction to The Value Added Tax (VAT)
Course Overview
The Value Added Tax (VAT), is a tax on goods and services tax, and defined as the general consumption tax and indirect tax that is collected incrementally, based on the value added to goods and services. Our VAT courses in UAE provides a comprehensive understanding of this indirect tax, essential for businesses and professionals alike. Delve into key concepts such as VAT principles, regulations, and compliance requirements tailored to the UAE market.
VAT is a consumption tax because it is borne by the final consumer. It is not a charge on businesses. VAT is also an indirect tax as it is paid to the VAT authorities by the seller of the goods, who is the “taxable person”, but it is actually paid by the buyer to the seller as part of the selling price.
Whether you’re navigating VAT for the first time or seeking to deepen your expertise, our specialized training equips you with the knowledge and skills necessary for success. Stay ahead in the evolving tax landscape and enhance your career with our VAT courses in UAE.
GCC Market is expected to implement VAT (Value Added Tax) across businesses. As a result of this decision all companies are expected to upgrade and enhance the accounting and finance knowledge of their staff in the related department. VAT will have an impact on all the supply chain starting from invoicing to data recording and the preparation of VAT returns forms.
Goal of Course:
Leap To Success has therefore prepared this 1 Day training to provide the fundamental knowledge and awareness required to understand what is VAT and the mechanics of how a VAT system works and the full Saudi and Tax authority (GZAT) rules to understand VAT obligations and introduces some of the key implications for businesses to be aware of. Enroll in our VAT courses in UAE, Dubai, Lebanon, Egypt and SA to unlock the full potential of Value Added Tax.
Duration:
1 Day
Language:
English/Arabic
Training Objectives
- Understand what is VAT
- Understand the key principles of VAT Accounting
- Understand the mechanics of how a VAT system works
- Understand VAT key rules, regulations and policies through The Saudi tax authority and (GAZT)
- Understand VAT administration, fines and penalties related to VAT filing
- Understand the VAT registration process and prepare required documents for VAT registration
- Understand what are the main entities that are included in the VAT implementation
- Differentiate various types of supplies with reference to VAT
- Understand the concept of VAT and its impact on the economy
- Differentiate Input VAT and Output VAT
- Understand essential knowledge on VAT Compliance
- Documentation and Record Keeping Requirements
Module Outlines
Module 1: Introduction VAT in the GCC
- What is Value Added Tax (VAT)?
- GCC VAT Framework
- Taxation theory and its effect on the economy
- The impact of taxation on the purchasing Power Parity and its link to pricing
- Early Taxation in GCC
- Which sectors are subject to VAT
- VAT effects and obligations
- Value Added Tax (VAT) law – Key highlights
- Case Study
Module 2: VAT principle
- Understand the history and the principles of VAT
- Output and Input VAT
- Differences between the VAT, GST and Sales Tax
- Advantages and disadvantages of VAT
- International rates of VAT
- Group VAT and how it works
- Case study
- Project presentation
Module 3: Implementation of VAT
- Reason behind VAT implementation
- Impact of VAT on KSA Economy
- Why VAT in KSA is different
- GCC VAT Framework
- Local Legislations
- Challenges in Framework & Member Countries Local Legislative
- Compliance Requirements Under VAT
- Case Study practical implementation
Module 4: Documentation and Record Keeping Requirements
Customized Learning
Leap To Success is offering a variety of learning options to meet current realities and can be adapted to suit your business needs. These options include variants of online, blended and on-site course formats.
Face To Face Learning
Enabling you to have a face to face interactive and engaging learning experiences led by renowned industry experts and thought leaders with extensive practical experience who will employ a variety of interactive learning techniques, including short high-impact videos, case studies, assessments, role plays, in addition to on-going support.
Virtual Learning Labs
Interactive online learning held in real-time using Zoom and are led by international subject matter experts who incorporate case studies, breakout rooms, guided practice, simulations and discussions to maximise your learning experience.
General Methodology
Similar to any L2S training program, this program offers an interactive learning experience in which will allow the delegates to reflect on their learning through an informative, indulging, and fun classroom experience. The design of the training session focuses on the following attributes.
- Concrete Experience: The delegates will learn by doing
- Reflective Observation: Reflecting on the newly experienced skill-set
- Abstract Conceptualization: Developing deeper understanding to the learned concepts
- Active Experimentation: providing the delegates with realistic tools that can be tested in the real life
Specific Methodology
To effectively execute this program and to ensure that the end result is being achieved L2S specific training methodology in Service Leadership is as explained in the below stages:
Stage 1: Designing the Training Event
During this stage L2S will be assessing the learning needs from the determined objectives, and simultaneously considering practicality. In addition, the Program Manager will arrange for a meeting with the Training Department or Stakeholders, to better understand their specific needs and the in the program. The objective of the meeting is to understand the principles of accounting and finance and Enhance the capabilities and skills in financial knowledge
Stage 2: During the training
The course design is based on interactive facilitation, training videos, and group discussions
This course is designed for the full involvement of every participant through the use of:
- Interactive team activities
- Skills practice sessions
- Group discussions
- Participant presentations
- Personal reflection
- Theory input
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