PwC's Academy Preparation for VAT PwC's Academy

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 Programmeis designed to cover the principles of VAT, and its impact on individuals and businesses in the GCC.

This programme 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.

What will I learn?

This course will help you understand :

  • 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 

Target Audience:

Professionals working in accounts or finance who want to gain a clear insight into the impact and mechanics of VAT. This course is suitable for anyone from accounts staff to senior finance staff or business owners, who are preparing for the transformation of their business as VAT is introduced throughout the GCC region.

PwC Academy is the educational business of the global organisation PricewaterhouseCoopers (PwC). Our goal is to give people greater knowledge, competence and expertise in finance and business. Our foundation is our team of expert professionals, who convey their wealth of knowledge and the practical experience they have gained within leading organisations around the world.

We offer a variety of training courses covering professional qualifications, financial competencies, and management skills. The courses are based on both the individual experiences of our experts and the best practices of PwC Global. We constantly adapt our courses to meet the needs of modern business and tailor them to our client’s requirements. PwC’s Academies in the Middle East are part of PwC’s growing network of Academies which are present in over 30 countries worldwide. Through the network of PwC’s Academies we continually exchange best practices and successful methodologies to ensure that we are consistently providing industry leading training programmes.

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