Certificate in Value Added Tax Implementation

Course details

The program will provide a thorough understanding of the basic concepts and principles of VAT and how it operates internationally.
When national VAT law of the country where the company is operating is issued, the program will be based on the content of the mentioned law and its secondary legislations.

By attending this highly practical workshop, you will:

Understand the basic concepts and calculation of tax base and rate.
Discuss  advantages and disadvantages of the VAT.
Describe VAT mechanism, 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 ;
Explain the impact of exemption in VAT and how tax is calculated by businesses that deal in exempt supplies.

Outline:

Introduction of VAT
»» Agenda
»» Updating on GCC's VAT
Definition and Characteristics of VAT
»» VAT definition
»» VAT mechanism
-- Input VAT
--Output VAT
»» VAT terminology
-- Input VAT
--Output VAT
-- Zero rated
-- Exempt
--Out of scope
»» Advantages and disadvantages of VAT

Scope of the tax
»» Taxable transactions(supply of goods and services)
-- Taxable goods
-- Taxable services
»» Chargeability of VAT
»» Liability for VAT
»» Taxable persons
-- Threshold
»» Place supply of goods and services
»» Time of supply
»» Import transactions
VAT calculation
»» Tax rate
»» Taxable base
Case study: Determining registration date

Exemptions from VAT, Zero rated and Out of scope
»» Exempted activities
»» Exempted goods
-- Local
-- Import
»» Zero rated
--Goods
--Activities
»» Out of scope
Reverse charge and deductibility of VAT
»» Reverse charge
»» Right to deduct
»» Apportionment of Input VAT and Pro-rata (Direct
Allocation, Proportional Deduction)
Case study : Calculation of the rate of recoverability
VAT taxpayers and their obligations
»» Registration
»» Filing obligations
-- Periodical VAT returns
-- Payment of VAT due
--VAT claims
--Non compliance
»» Reporting
--VAT GL accounts
-- Books and records
--VAT Invoices
-- Supporting information for VAT deduction

Special cases of VAT
»» Cash Business
»» Obligations for non residents
»» Jewellery special schemes
»» VAT refund for tourists
»» VAT refund for non resident businessmen
»» VAT refund on transactions made by diplomatic bodies consulates and international organizations
»» Adjustments arising from changed use of goods or services - output tax
VAT Trends and Communication Strategy
»» Lebanon experience

VAT Fraud - Discovery and Reporting

Case study: Exercices and group discussion
Wrap-up and Self test Updated on 25 January, 2023