VAT Accounting & Implementation

Course details

COURSE OBJECTIVES

WE ARE GLAD TO ANNOUNCE THAT WE HAVE TRAINED  1 107 OMPANIES’S KEY  STAFF SUCH AS Directors, General Manager,FInance Managers , Accountant, Purchase, supply chain staff, Marketing and sales staff , Administration, book keeping and Audit firm staff and Many more.

PLEASE DOWNLOAD BROCHURE FOR COMPREHENSIVE DETAILS.


COURSE OUTLINE

VAT- AWARENESS

▸Direct & Indirect Tax
▸ Tax career in GCC
▸ Why VAT in UAE, Impact on UAE Economy
▸ How VAT frame work works and who pays VAT
▸ Understanding Executive Regulations
▸ UAE VAT terminology and interpretations
▸ Taxable supply (Standard, ZERO & Exempt).
▸ ZERO Rated and Exempted Industry analysis
▸ VAT Grouping
▸ VAT on Import and Export in GCC & others
▸ VAT registration and documentation
▸ VAT administrations, fines, Penalties
▸ Common errors in VAT calculations
▸ Appointment of Tax agent
▸ VAT treatment for Real state, Retail trade Financial
services, Aviation & Service industries
▸ Detail Analysis for VAT on Free zone


VAT - ACCOUNTING

▸ VAT Invoicing
▸ VAT Accounting & Reporting
▸ VAT Return Submission
▸ FTA Audit preparation
▸ VAT Adjustment (Error Correction, Sales and
Purchase Return, Bad debt, Warranty, Capital Asset
Scheme,Transhipment Reverse Charge
Mechanism, Deemed Supply, rebates)
▸ Record keeping
▸ VAT - Tax Planning & Tax Saving
▸ Strategic Pricing and Costing with VAT
▸ Business Impact –Pricing, Margin and cash flow
▸ VAT efficient Procurement and Inventory
 ▸  Management Accounting and Innovatie costing with VAT
▸ Risk analysis of NON - VAT implementation and compliance
▸ Strategies to keep 2017 price or below with VAT
▸ Few Strategies to take competitive advantage with VAT 

VAT CHALLENGES/STRATEGIES
▸ VAT Implementation
▸ Accounting & Reporting
▸ Cash flow
▸ Contract Negotiating & Redrafting
▸ FTA compliance
▸ Supply Chain Challenges
▸ Procurement & Vendor Selection
▸ Market share retention
▸ Operational & Transitional
▸ IT and system
▸ Transfer Pricing

STRTEGIES TO CHALLENGES
▸ Taxation in strategic planning
▸ Strategic Pricing for competitive advantage
▸ Counter strategies on Price impact of VAT introduction
▸ Supply Chain Strategies
▸ VAT efficient Business expansion Strategies
▸ Activity based costing and Market pricing
▸ Contract Negotiation & Redrafting
▸ Cash flow & Working capital Management
▸ And many more

VAT - IMPLEMENTATION
▸ VAT Project Management Road Map
▸ Identifying main VAT challenges
▸ Way of Overcoming VAT challenges
▸ VAT Impact Assessment for Organization
▸ Analyze the current Business process
▸ Design and Build system for VAT compliance VAT Implementation and Training
▸ VAT manual preparation
▸ Pilot run and Report testing. Go Live
▸ Continuous VAT compliance monitoring
▸ Resolving issues with tax Authority for non compliance.
▸ VAT Implementation Road Map.
▸ Tax Planning & Tax consultancy.
▸ VAT Impact Analysis & Due Diligence
▸ VAT Readiness Assessment
▸ VAT Ruling on complicated matters

WHAT WILL YOU GAIN FROM THIS COURSE?
 

TARGET AUDIENCE

REFER BROCHURE

Course Methodology

VAT - AWARENESS

▸ Lecture with Interaction
▸ Question and Answer session with Participants’ industry
▸ VAT consultancy for Participants’ industry scenario
▸ Practice of written activities for exploring taxation skills of participants
▸ VAT registration exercise

VAT -ACCOUNTING 

▸Lecture with Interaction
▸ VAT accounting activities with adjustment
▸ VAT return submission activity (2 hr)
▸ VAT Management Accounting Activities
▸ VAT calculation activity to test the understanding of participants
▸ Strategy discussion on keeping the 2017 Price even with VAT

VAT CHALLENGES/STRATEGIES
▸ Lecture with interaction
▸ Question and Answer session with Participants’ industry
▸ Case study analysis to identify the challenges and its impact of the participants’ industry
▸ Strategy discussion to overcome VAT challenges


VAT - IMPLEMENTATION
▸ Lecture with interaction
▸ Written Project Implementation
▸ Project activity to explore participants’ skills & guidance for VAT
Implementation
▸ Risk and Cost Benefit Analysis activities of VAT implementation
 
COURSE BENEFITS

▸ Understanding UAE - VAT Framework
▸ Knowing the Type of supply and industry analysis
▸ Practical understanding VAT Accounting and VAT Return Submission
▸ Technical understanding of VAT Registration and Compliance
▸ Knowing the Risk of NON-VAT implementation and Penalty
▸ Understanding the VAT challenges and ways of overcoming
▸ Practical understanding of strategy for VAT challenges
▸ Relate VAT and Supply Chain Management
▸ Know the background of VAT implementation in GCC Region
▸ Identify the pre-requisites and needed preparation before VAT
implementation
▸ Recognize the competencies and skill set requirements – People, Systems and Leadership
▸ VAT implementation Road Map for businesses
▸ Identify the financial, business and marketing impact of VAT during pre and post implementation
▸ Knowing VAT Strategy and how it can be aligned with Business Strategy

Updated on 17 April, 2018