VAT - Value Added Tax

Course details

• Basics of Taxation- Direct and Indirect Taxes
• Difference Between VAT,GST and Sales Tax
•  Reasons for VAT in UAE and Impact on the UAE economy
•  Main UAE- VAT Terminology and Interpretations
• Type of supply in VAT calculation
•  Input VAT and Out Put VAT
•  Impact of VAT on Import and Export in GCG and Rest of the world
•  VAT Invoicing and VAT return Submission
•  VAT registration and documentation
•  VAT administration , fines and Penalties for violation
•  Common Errors in VAT calculations
•  Understand the VAT and Implementation Road Map

•  Taxation and career development in GCC
•  VAT challenges in the Business (Accounting,cashflow,Vendor selection, procurement, supply chain, Transfer pricing , operational challenges,       Market share retention and Maintain sustainable competitive advantages)
•  What is VAT strategy and How it can be aligned with Business strategy
•  Revisit to Business model and competitiveness
•  Business Impact - Margins, Pricing and Cash Flows
•  VAT challenges- cost control and Cash flow challenges
•  VAT Accounting and Reporting challenges
•  Strategic Planning with VAT impacts
•  Supply chain challenges
•  Business process Reengineering
•  Contracts Renegotiating and redrafting.
•  Compliance -Governance and control issue
•  Procurement planning and control (Cost, Price Hikes & Tax saving Opportunity)