VAT training in GCC is to understand VAT Concept and its Business Implication in Dubai, Abu Dhabi, Riyadh, Doha, Bahrain, Muscat. Value Added Tax (VAT) is now becoming a reality in GCC countries. Are you ready for it?
PentaSOL Cloud is pleased to launch VAT Training in Dubai. This specially designed VAT Training program examines the rules and regulations of VAT and clearly demonstrates the procedures and controls that should be in place to ensure VAT returns are submitted accurately and on time. This workshop will give you a complete understanding of VAT, covering all the essentials topics and giving you the confidence to know if you are dealing with VAT correctly. The current VAT Training is developed to equip your team to adequately embrace the VAT requirements in Global context. The VAT Training would be exploring the probably VAT landscape in GCC.
- Understand the concept of VAT and its impact on the economy
- Understand the impact of VAT on the operational and the financial performance of the business
- Differentiate various types of supplies with reference to VAT
- Differentiate Input VAT and Output VAT
- Categorize the supplies for VAT calculation
- Understand the impact of VAT on the Imports and Exports to the member countries (gulf region) and non-member countries (rest of the world)
- Prepare the invoices including VAT
- Understand the VAT registration process and prepare required documents for VAT registration
- Understand VAT administration, fines and penalties related to VAT filing
- Identify common errors in VAT calculation
- VAT CONCEPT
Concept and motive of VAT
Input and Output VAT
Supplies, Goods and Services
- CATEGORIES OF SUPPLIES
Reduce rated Supplies
Zero rated Supplies
Zero Rated vs. Exempt
- VAT AND UAE, GCC
Reason behind VAT implementation
Impact of VAT on UAE, GCC Economy
Why VAT in UAE, GCC is different?
Gulf VAT Framework
- VAT REGISTRATION
Rules for VAT registration
Rules for VAT De-registration
- VAT CALCULATION
When should VAT be accounted for?
Calculating Input VAT (Purchases)
Calculating Output VAT (Sales, Services & Gifts)
- VAT ADMINISTRATION
Filing VAT returns
Timing for VAT Filing
Claim for VAT Refunds
- VAT PENALTIES
Late payment/ submission penalties
Error and penalties
Default interest rate
- VAT ON IMPORTS/ EXPORTS
Calculating output VAT on Exports
calculating input VAT on Imports
(Member countries and non-member countries)
- VAT INVOICES AND RECORDS
Layout of the VAT Invoice
Charging VAT on Invoice price
VAT invoices Record Keeping
- VAT ERRORS
Pre-registration input VAT Calculation Relief Calculation
Valuation of Supplies
Oracle VAT Training – 2 Days
- Premium Package:
- VAT Configuration Training to Implement in Oracle Financials – 5 Days ($340) +
- VAT Training GCC – 2 Days workshop ($485)
- Cost: $695 (Discount of $130)
Every Month New Batch is starting, Check Training Schedule on Schedule Page with the latest updates.
06:00PM GST/GMT+4 | 07:30PM IST | 07:00AM PST | 07:00AM MST | 09:00AM CST | 10:00AM EST | 07:00PM GMT+5
VAT Workshop: 09:00 AM To 05:00 PM (Hosted Country Local Time)
- What is the Gulf Co-operation Council?
- What is VAT?
- How does VAT differ from customs duty?
- What are the current levels of import duties in the GCC?
- What is the difference between zer0-rated and exempt supplies?
- What sort of supplies might be zero-rated?
- What sort of supplies might be exempt?
- When is input tax reclaimable?
- Is VAT charged on goods sold to traders in other countries?
- Does an overseas visitor have to pay VAT on retail purchases?
- Are imports subject to VAT?
- Is import VAT payable immediately on import?
- Is import VAT ever waived?
- Is VAT charged on goods sold between different countries in the same community?
- Is VAT paid by a trader buying goods from a country within the same community?
- Are there any problems with model for intra-community sales of goods?
- Is there an alternative to the model of intra-community sales of goods?
- What is triangulation?
- What is the simplification procedure for triangular transactions?
- Is VAT charged on services supplied by a trader in one country to a customer in another?
- What is the reverse charge procedure?
- How are international services treated if the customer is a consumer?
- How does a taxpayer reclaim input tax paid in another community country?
- How could the GCC be relevant for VAT purposes?
- What would be the advantages of applying the “European model” to VAT in the GCC?
- Is it inevitable that VAT will be implemented in the UAE?
- When will the Federal Government officially announce the implementation date?
- Does anything need to happen at GCC level?
- Will VAT be the same on all products and services?
- You will get answer to all questions: