VAT

What are goods and services subject to VAT?

It is expected that VAT will not be levied on spending related to healthcare, education, 100 other essential items, local transportation, residential real estate, including long term leases on residential properties according to earlier reports.

• Basic of Taxations
• Understand the theory behind the taxation
• Early Taxation in UAE

Concepts of VAT

• Understand the history, basic concept of VAT
• Differences between the VAT, GST and Sales Tax
• Advantages and disadvantages of VAT
• Vat rates all over the world
• Group VAT and how it works

VAT history and updates in the UAE as of date

• Reason behind VAT implementation
• Impact of VAT on UAE Economy
• Why VAT in UAE is different?
• GCC VAT Framework

VAT Administration & Calculations

• Definitions of terms
• Differentiate Input VAT and Output VAT
• Categorize the supplies for VAT calculation
• Understand the impact of VAT on the each major industries to GCC region
• Prepare the invoices including VAT and documentation requirements
• VAT on Import & Export Business
• Understand the VAT registration process and prepare required documents for How to prepare for the VAT (detailed concepts)
• Case Studies