LEORON Professional Development Institute Certificate in Value Added Tax Implementation LEORON Professional Development Institute
Price: USD 1,290
Instructor led live virtual classroom online. Classes may be individual or in group.
  • Duration / Course length: 2 Days
  • Timings: Enquire

    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 01 September, 2021

    Eligibility / Requirements

    No prior understanding of VAT is required as the course will build from the absolute basics through to some of the more complex issues such as exemption.

    About LEORON Professional Development Institute

    LEORON Professional Development Institute is the leading corporate training company in the emerging markets of Europe, Africa, and Asia. LEORON has grown into one of the most comprehensive training institutes in the EMEA region, offering training solutions in all strategic corporate functions including corporate finance, HR, SCM, operations, sales and marketing, and engineering. With offices in Dubai, Abu Dhabi, Riyadh, Jonkoping, Accra, and Almaty, we run over 500 courses and train over 15000 professionals annually across the EMEA region.

    As a leading Competency-Based Training Institute, our commitment is to help increase Competitiveness of our clients by strengthening the skills, competencies, and abilities of their employees, assist with the Capacity Building programs and assure continuous Competency upgrade by providing them with knowledge, practical tools and learning systems that are unmatched in the market.

    LEORON Professional Development Institute's mission is to help corporate clients and government entities worldwide in strengthening the overall competency of their employees by providing them with top-quality professional training programs, conducted by unrivaled global experts and implemented by the best training managers in the industry.

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