VAT Accounting and Tax Return Submission

Objectives:

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 brochure to get complete details of this workshop.

Overview:

This course is specifically designed for individual and organization to understand the GCC VAT, VAT ACCOUNTING and VAT Return submission.

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

What Will You Gain From The Course

- Understanding UAE - VAT Framework

- Knowing the Type of supply and industry analysis

- Understanding UAE and GCC VAT frame work

- Understanding the Executive regulations and implementations

- 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

- Management Accounting with VAT

- Practical understanding some strategies for VAT challenges

- Know the background of VAT implementation in GCC

- Identify the pre-requisites before VATimplementation

- Recognize the competencies and skill set requirements

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

- IT and IS Managers, Sales and Marketing Staff,

- Professional and Academic graduates

- Those who want to learn about VAT

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