VAT Principles

Duration 16 Hours | 4 Days | 4 Hours Per Day | Evening

Course Overview:
Tax collection processes for VAT may seem relatively simple. In practice, however, VAT raises many concrete questions which a real concern for businesses. We are experiencing an increasing trend for companies to manage VAT compliance obligations in house in order to minimize costs. However, simple VAT compliance tasks may lead to significant VAT risks and penalties if not handled timely and correctly. This course provides participants with the understanding of VAT principles to enable proper handling of VAT Compliance obligations and enable basic VAT structuring ideas.

Who should attend: 

• Finance and tax directors
• Accountants
• Internal auditors
• Any employee responsible for the VAT compliance and the correct reporting of VAT liabilities

Course objectives:

• Understand the concept of VAT and its impact on the economy
• Understand the impact of VAT the financial performance of the business
• Differentiate various types of supplies with reference to VAT
• Differentiate Input VAT and Output VAT and Identify common errors in VAT calculation
• Categorize the supplies calculation and prepare the invoices including VAT
• Understand the impact of VAT on the Imports and Exports to the member countries (Gulf region) and non-member countries (rest of the world)

Program Phases:
Phase 1: ARE YOU READY?
Challenging capabilities and simulating real cases through training and coaching environment to engage our learners’ talents to the real updated world.

Phase 2: ENGAGE
This program provides an opportunity for practitioners and learners to focus on leadership in the information professions from both theoretical and practical perspectives. The program employs theoretical concepts and models, coupled with case studies based on the experiences of leaders within the profession to understand how to develop leadership potential in oneself and others.