You will learn about Roadmap for VAT project management, VAT implementation steps and valued processes, BPR, report testing and pilot run, tax planning, consultancy etc.
DurationObjectives:
Emirates Center of Culture & Computer is glad to announce that they have trained key employees of 99 companies that include Directors, General Manager, Finance Managers, Accountant, Purchase, supply chain staff, Marketing and sales staff, Administration, bookkeeping and Audit firm staff and many more.
Note: Please request for a brouchure to get complete details of this workshop.
Overview:
This workshop on VAT Accounting and Implementation will teach you about UAE VAT framework, supply industry analysis, VAT Accounting and VAT Return Submission, addressing VAT challenges, VAT Registration and Compliance understanding, VAT strategies to respond VAT Challenges, VAT Implementation pre-requisites and much more.
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
- Risk analysis of NON - VAT implementation and compliance
- Strategies to keep 2017 price or below with VAT Challenges
- Procurement & vendor selection
- Market share retention
- Operational & Transitional
- IT and system
- Transfer Pricing
- 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
- Taxation in strategic planning
- Strategic Pricing for competitive advantage
- Counter strategies on Price impact of VAT introduction
- Supply Chain Strategies
- VAT efficient Business expansion
- 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:
- Understanding UAE - VAT Framework
- Knowing the Type of supply and industry analysis
- 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
- 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
Target Audience:
- Business Entrepreneurs, CEO , Directors, Department Managers
- CFOs , Finance Directors , Finance Managers
- Accounting, Finance Staff, Staffs dealing with Payable & Receivables
- Tax Managers, External and internal Auditors
- Procurement and Supply Chain Managers
- Sales, Marketing Staff,
- Professional, Academic graduates
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
Emirates Center of Culture & Computer is located in UAE that provides specialized training for Arabic language learners. The Arabic program is led by native speakers with a focus on written and Spoken Arabic along with an emphasis on Vocabulary and Grammar.
It also offers a range of other courses to assist the working professionals in UAE with diverse topics and fields like VAT, Finance, Budgeting, and other related courses.
The United Arab Emirates (UAE) implemented a Value Added Tax (VAT) on January 1, 2018, in a bid to diversify its revenue sources.
Maintain a competitive position and remain up-to-date on the latest VAT news and developments. Understand your legal obligations to ensure your business is VAT compliant and how to avoid harsh penalties and fines.
This four-hour long session will get you up to speed with the concepts, techniques, and understanding of VAT. It is an ideal program designed for Senior Executives, Business Owners, Finance Personnel, and more to understand the core concepts
This is a one-day VAT training course where topics like Input/output Tax, Registration & de-registration, Due tax assessment, VAT planning and Implementation, Transitional rules, violation & penalties related to VAT, and much more will be di
This training will give you knowledge and skills to understand VAT, its implementation, compliance requirement, impacts and calculations. It gives an overview of how VAT works, related operational considerations, managing post-implementation
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