Value Added Tax Implementation

Gulf Cooperation Council (GCC) countries have agreed they will introduce Value Added Tax (VAT) at a rate of 5% in 2018, though the decision is yet to receive final approval before being implemented. The introduction of VAT represents a significant change in tax policy and will have a major impact on businesses across GCC. 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. This course introduces the basics of Value Added Tax. As such, no great 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. The workshop does not focus on VAT as applied any one country but takes a global view.

»» CEO/CFO/COO/CIO »» Tax directors »» Financial controllers/managers »» Procurement managers »» Legal and contract affairs professionals »» Information technology managers »» Sales and marketing managers

Part 1 - Introduction of VAT - Definition and Characteristics of VAT - Scope of the tax - VAT calculation Case study: Determining registration date

Part 2 - Exemptions from VAT, Zero rated and Out of scope - Reverse charge and deductibility of VAT Case study : Calculation of the rate of recoverability ¬- VAT taxpayers and their obligations

Part 3 - Special cases of VAT - VAT Trends and Communication Strategy - VAT Fraud - Discovery and Reporting Case study: Exercices and group discussion Wrap-up and Self test

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