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Program Details

VAT Preparing for Taxation and Understanding its Implementation


Program Description:

GCC VAT is on its way. The Legislation, Regulations and Framework will be announced in the months to come, creating challenges for businesses to develop and design a road map for coping with changing scenarios. VAT implementation will challenge all aspects of businesses ranging from internal to external stakeholders to process, business models, supply chain partnerships, pricing strategies and, sustainability.

Around 95% of the consumer goods and services will attract VAT which poses a big challenge to business enterprises as they need to prepare themselves for upcoming challenges.

This program is specifically designed to introduce the concept of VAT to the enterprises operating in GCC region. The training will help entities in gaining an insight of upcoming challenges arising from the implementation of VAT, changes in their cash flows, profitability, sales and cost structures.

Learning Objectives

  •          What is VAT?
  •          Type of supplies
  •         VAT accounting and calculation
  •         Administration and registration procedures
  •         VAT planning and implementation
  •         Advanced issues
  •         Impact on Various Sectors

Course Outline


What is VAT?

·         Introduction to Value added Tax (VAT)

·         Purpose of VAT

·         What is VAT and how does it work.

GCC VAT Framework

·         The GCC VAT Framework

·         Impact of VAT on the GCC Economies

·         How GCC VAT is different from others

·         Implementation of VAT time frame

·         Key terms of VAT and general definitions

Type of Supplies effected

·         Supplies that are taxable

·         Reduce rated supplies

·         Zero rated supplies

·         Exempted supplies

·         Zero Rates Vs. Exempt

·         Time and place of supply


VAT Registration / De-Registration

·         Compulsory and voluntary registration

·         Voluntary and compulsory de-registration

·         Case Study on VAT registration and de-registration

Input and Output Tax

·         Calculation of output VAT (Sales / gifts)

·         Calculation of input VAT (Purchases / Expenses)

·         Exercises and Case Studies on Input and Output VAT.

VAT Accounting – Advanced Users

·         Pre-registration input VAT

·         VAT on non-current assets

·         VAT implication on operating/finance lease

·         Discounts and returns

·         Self-supply of goods and services

·         VAT on receivables and payables

·         Implication on bad and doubtful debts

·         Advance issues – Exercises and case study


Tax Point and Invoicing

·         Importance of tax point

·         Time and place of supply

·         Contents of VAT Invoice



·         Filing VAT return

·         Fines and penalties

VAT Planning and implementation considerations

·         IT and systems

·         Financial Modeling

·         Contract pricing

·         Supplier management

·         Communications and training

·         VAT planning and implementation – Case Study

Other / Advanced Issues

·         VAT Groups

·         VAT on import/exports

·         VAT on intercompany transfers

·         Case Study on VAT Groups


Who Should Attend

  •         CFO, Finance Director, Finance Managers
  •         Accounting & Finance Staff
  •         Tax Managers
  •         Procurement & Supply Chain Managers
  •         IT & IS Managers
  •         Sales & Marketing Staff
  •         Department heads
  •         Business Owners
  •         Managers
  •         Entrepreneurs
  •         Team Leaders
  •       Directors


Supported by Tamkeen Wage Support