VAT - Regulation and Implementation

This customized program is designed to provide the practical knowledge to the businesses as to what VAT is, how this will be levied, what will the timelines to fulfill the requirements and to have the confidence that you are dealing with your VAT requirements correctly.

Course Outline

• Federal Tax Authority, Legislation, and the Legal Framework
• Regulations - Tax Procedure Law and Decree Law
• Rules and Policies
• International & Regional Perspective (GCC VAT Agreement)
• Terminology & Definitions, Format and layouts
• Explaining VAT, Accounting for VAT
• Getting Ready and Registering
• Concept of Supply of Goods and Services
• Invoice and purchases
• Purchases documentation & Record keeping requirements
• Calculations, Mechanism and how it works
• Calculating Input, Output tax, Exports & Imports Implications
• Groups and Inter company Transfers
• Preparing & Impact analysis