Introduction to VAT

In anticipation of the issuance of the final legislation, our 'Preparation for VAT' Series will help you begin to prepare for this change. An agreement on a common VAT framework to be implemented across the GCC states is expected on 1 January 2018. The programme is designed to cover the principles of VAT, and its impact on individuals and businesses in the GCC. It demonstrates how VAT works and who is likely to be affected by its implementation throughout the GCC.

This course will help you understand:

• The mechanics of VAT calculations and VAT accounting
• What is Output and Input VAT?
• The applicable rates of VAT (standard, zero) and which goods and services are taxable
• Exempt goods and services, and the implications of being an exempt business
• Partial exemption rules for businesses making both taxable and exempt supplies
• VAT treatment of import and export, acquisitions of services from non-residents, intra-GCC supplies, and the determination of the "place of supply" of goods and services
• The commercial implications of VAT on businesses
• Resource requirements: human, technical and professional

Target Audience

This course is suitable for anyone who is preparing for the transformation of their business as VAT is introduced throughout the GCC region. Account staff, finance managers, business owners or anyone involved in implementation for VAT will benefit from this course.

How will I benefit from taking this course/what career paths will be open to me?

Using practical examples and case studies, this course enhances the understanding of the mechanics of VAT calculations and who should register for VAT, the goods and services VAT is likely to be taxable on and the VAT treatment applicable to different types of supplies.

E-learning modules are available to introduce the essential VAT concepts for newcomers to VAT, or as a refresher for those who have past experience in this area.